COM 0024.000 2010-2012 - Laserfiche WebLink

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s , William P. Kenoi �s7 °F H� Nancy E. Crawford Mayor �R'�C' �1 Finance Director Deanna S. Sako '• == =` Deputy Director -.Tt, 01 Nl County of Hawaii DEPARTMENT OF FINANCE - REAL PROPERTY TAX Aupuni Center • 101 Pauahi Street • Suite 4 • Hilo, Hawaii 96720 -4679 • Fax (808) 961 -8415 Appraisers (808) 961 -8354 • Clerical (808) 961 -8201 • Collections (808) 961 -8282 75 -5706 Kuakini Highway • Suite 112 • Kailua -Kona, Hawai`i 96740 • Fax (808) 327 -3538 Appraisers (808) 327 -3542 • Clerical (808) 327 -3540 Website: www.hawaiipropertytax.com May 24, 2010 Charlene K. Rodrigues 94 -032 Hokupalemo PI. Mililani, HI 96789 Re: TMK (3) 8 -2- 005 - 025 -0000 Ms. Rodrigues: I am enclosing a copy of the email response from the zone appraiser, her analysis for her proposal to reduce your land assessment, and information extracted from the recorded sales data of vacant land sales in 2009 in South Kona. These were not used to value your parcel because of there location and the fact that they justified the assessed values on the lots. If they were used your assessment would be around $22.00 per square foot, or $315,300. The appraiser's settlement offer is lower and is based on an analysis of a 2010 sale, which occurred after the 1/1/10 assessment date. Regarding the building value, we do not have comparables per se. We are not using a market modeling system to set our values, so we do not have actual comparables. Instead we are using cost tables which are based on actual construction costs and market based adjustments for physical condition and age, functional utility, and economic conditions. These cost table values are compared to actual market sales, and we have consistently been within 10% of the full market, normally on the low side. The current sales ratio studies have not been completed for this year, but I am sure they will be similar to the previous years, showing we are under assessing the majority of property. After the appraiser inputted the changes mentioned in her email, your assessed building value is a little over $70,000 less than its replacement cost. We can print out the actual tables used in this calculation, but the last time we did it upon a request it took 8 reams of paper and cost in excess of $400.00. If you want a copy of these tables, I can get an exact dollar amount it would cost. I hope what I am providing you with meets your request. If not, please let me know what other specific things you want. I am returning your $2.00 check, as what we are sending you is what we would normally send anyone upon a request. If you have any questions, feel free to call me at (808) 961 -8260, or the appraiser, Angie Metriyakool at (808) 327 -3528. Sincerely. yours, Michael B. McCall Enclosures CC: A. Metriyakool Hawai `i County is an Equal Opportunity Provider and Employer