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A Peek Behind the Curtain: Office of the Property Assessor (Part 2)

By
Real Estate Appraiser with Richard L. Sanderson Consulting AAS #239

Local Resources Just a Click or Call Away

Ever wondered what resources are available at City Hall?  Here's your chance to take a tour of the local real estate assessor's office with a focus on resources available to businesses, home owners, and professionals who work in the field of real estate (i.e., appraisers, lenders, real estate agents, real estate brokers, surveyors, title insurers, etc.).

Part 1 of this series described the basic assessment records available in the typical real estate assessor's office.  Part 2 continues our investigation by outlining various reports and specialty information that many assessors may have available.

Assessment Reports and Specialty Information

Assessment reports or reports of the last reassessment - A written report to the governing body concerning the most recent assessment of properties or reassessment that includes statistics like the average change in assessed value for existing single-family detached homes and the background on market changes for each class of assessed property in the city or county.  You can expect lots of useful information like how foreclosures sales affected residential property assessments or how retail property vacancy rates have affected commercial property assessments.  Think of this as the assessor's annual report to stakeholders of the community.

Sales ratio studies - A study performed by the local assessor's office and/or by an oversight agency at the county or state level where the assessed value is compared to the sales prices for sold properties during a predetermined study period.  Sales ratio studies are typically performed annually but can be done less frequently.

Reports related to the assessment review and appeal process - Summary reports that relate to the number of property owners who request the local assessor review the new assessment or who challenged the assessment further to an appeals board or commission or to the tax court or tribunal.   Some reports state the original assessed value, the petitioner's contention of value, and value resulting from the challenged assessment.

Reports or lists of properties qualifying for assessment and property tax abatements, deferrals, or exemptions - These reports and lists vary tremendously by state, and even within a given state by city and county, and may be part of assessment report mentioned above.

Report or list of properties subject to supplemental assessments - Many states and provinces allow assessor to increase assessments upon completion of certain structures during the assessment year.  A report of properties subject to supplemental assessments may be part of the assessment report mentioned above.

Appraisal library - Books and other publications assembled over time by the assessment office from conferences, training courses, and seminars concerning the valuation of real and personal property.

Records of real estate declarations of covenants, conditions, and restrictions for recorded subdivisions and condominium declarations and bylaws - Although the city of county land records office may be the primary source for such data, many assessors archive these documents in hardcopy format or electronically so that they can refer to them when issues arise.

This list by no means exhausts the full range of resources available at your local assessor's office.  Not all reports and specialty information may be available from every local real estate assessor's office or in the manner described.  The intent is to give you an idea of what can be available from your local assessor if you know what to ask for or how to describe its function.

Posted by

Richard L. Sanderson - Property Tax Consultant & Valuation Specialist

 

If your company or membership organizaton would like to know more about our services please contact me through this profile or through soical media.

Richard L. Sanderson

 

    

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