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sat Practice Improvements <br />o Base assessments on "market modeling" when <br />there are sufficient sales — the Real Property Tax <br />Division already plans to institute this — and <br />consider valuing improved properties as an <br />economic unit - Recommendation 29 <br />o Use the income capitalization approach in the <br />valuation of rental properties — would require <br />authorization in the Code - Recommendation 26 <br />o Lack of use of regional building cost modifiers <br />• Land is valued based on local sales markets <br />• Buildings are treated more uniformly county -wide - this <br />likely undervalues buildings in resort areas - <br />Recommendation 28 <br />al System Issues <br />a The current appeal system has several questionable <br />features (see Recommendation 37), including: <br />• The 20% value difference hurdle is excessive —at least for <br />residential properties <br />• The Code's current limited ground for uniformity appeals is <br />not in harmony with a longstanding U.S. Supreme Court <br />decision <br />• The filing fee and link to condemnation proceedings could <br />deter otherwise meritorious appeals <br />• In valuation complaints, appellants should be allowed only to <br />challenge total value, not the value of a component <br />o IAAO standards recommend that the first level of <br />appeal should be to the Division - Recommendation <br />38 <br />