The Data Collection Phase
July 21 - February 28
The Data Collection Phase actually begins around July 21 with planning sessions to discuss our next appraisal project.
In the early phases of the appraisal cycle, beginning in early August, several events happen concurrently, including staff appraisers driving the county to discover new properties, identification of neighborhoods (i.e. market areas) and preparation of appraisal records for field inspections.
For the duration of the data collection phase, the staff appraisers in the field and office personnel work to update our appraisal records. The following bullet points summarize key activities:
- Field review of new construction and remodeling based on permits and plans.
- Field review of new and existing businesses.
- Field recheck of existing properties flagged for review based on reported structural issues, such as foundation problems, roof leaks or poor general condition/maintenance.
- Update GIS and appraisal records based on deeds and subdivision plats filed on or before the January 1st assessment date.
- Compile information regarding building permits, occupancy permits, list prices and sales prices.
- Compile information regarding properties posted for foreclosure and foreclosed properties.
- Ongoing data input into the District's CAMA system (Computer Assisted Mass Appraisal).
- Ongoing quality control edits and field rechecks.
The Data Collection Phase is critical to the overall appraisal project. The data gathered and input into our CAMA system during this seven month period will drive the Valuation Phase.
The Valuation Phase
March 1 - April 15
The Valuation Phase begins with the analysis of data gathered during the past seven months. The following bullet points show some of the key activities during the Valuation Phase:
- Land appraisers value newly platted subdivisions based on individual market transactions and/or builder take-down contracts. In general terms, we expect to see the typical interior base lot to have a land-to-property ratio of around 25% of the median property value in the neighborhood.
- Residential appraisers conduct appraisal ratio studies, calculating the mean & median ratio of the current appraised value of sold properties to their sales price. Concurrent with the analysis of ratio studies staff will update our residential pricing (classification) home cost schedules, utilizing Marshall & Swift cost tables, adjusted for region modifiers and local market modifiers derived from ratio studies.
- Utilizing sales ratio studies and by analyzing market influences within a neighborhood, such as amenities and foreclosure activity, our residential appraiser will perform an annual appraisal using generally accepted mass appraisal methods.
- Commercial/Industrial appraisers conduct appraisal ratio studies comparing the current appraised value of sold properties to their sales price. Concurrent with the analysis of ratio studies staff will update our commercial/industrial pricing (classification) schedules, utilizing Marshall & Swift cost tables, adjusted for region modifiers and local market modifiers derived for ratio studies. At the same time staff will analyze income valuations, research market rents, market expenses and capitalization rates for various categories of commercial/industrial property.
- Business Personal Property (BPP) appraisers will review sworn renditions of Business Personal Property, filed by owners, their tax agents or attorneys. Personal property appraisals are based primarily on the Cost Approach, utilizing information from renditions, field reviews and/or onsite inspections. Key components used in the valuation of BPP, via the Cost Approach, are original cost, less depreciation based on property types and age. Personal property inventories may, when deemed appropriate, be depreciated for such items as shrinkage and spoilage.
BPP accounts are coded with a four digit numeric code, called Standard Industrial Classification (SIC) code. These codes are used to group business types that have similar property characteristics. Additionally, we have created a series of property codes to further delineate similar business types within a SIC code. The use of SIC codes and property codes enable the District to analyze comparable properties by code and study typical value ranges, in total or per square foot, for application of mass appraisal methodologies.
The Appraisal Notification and Informal Review Phase
April 16 - July 20
The Appraisal Notification process, and informal reviews, happen in two completely separate events for real property and business personal property, as follows: [Please keep in mind that the dates, other than statutory protest deadline, are estimated and intended to help you understand the general flow of the process.]
- April 15
- all real property data input finalized in Computer Aided Mass Appraisal (CAMA) system.
- April 16 – April 30
- real property appraisal notices processed for printing and mailing services.
- April 30 - May 1
- real property appraisal notices mailed.
- May 1 – May 31
- staff appraisers conduct real property informal reviews with property owners and/or their tax agents. If appraisal notices are mailed on or before May 1st, the protest deadline will be May 31st.
Business Personal Property
- May 15
- first group of BPP data input finalized in CAMA system.
- May 20
- first group of BPP Notice of Appraisal Value mailed.
- May 21 – June 20
- (calculated 30-day protest deadline) staff appraisers conduct BPP informal reviews with property owners and/or their tax agents, from 1st group of BPP notices mailed.
- June 10
- mail 2nd (final) group of BPP Notice of Appraised Value.
- June 11 – July 10
- (calculated 30-day protest deadline) staff appraisers conduct BPP informal reviews with property owners and/or their tax agents, from 2nd group of BPP notices mailed.
The informal review process is provided, once the Notice of Appraised Value is mailed, and prior to a formal ARB protest hearing, to allow an owner or their tax agent to provide information about the property, including purchase contracts, repair estimates, building plans, surveys and photographs. The District's appraiser will discuss the subject property's appraisal and supporting market data.
The informal review process begins when the Notices of Appraised Value are mailed, as outlined above. Informal review ends the day before your scheduled ARB hearing or at the signing of a settlement agreement, whichever occurs first.
If the owner or their tax agent and the appraiser agree to a value of the property the appraiser will print/sign a settlement agreement contract, to be signed by the owner/agent. At this point nothing additional is required and the value is final for the current year.
If the owner or their tax agent and the appraiser cannot resolve the valuation issue the owner can proceed to their ARB hearing, if a written protest has been filed, or is filed, before the protest deadline stated in the Notice of Appraised Value.
Note: Please note that an informal review does not entitle you to or create a protest with the Appraisal Review Board (ARB). To appear before the ARB you must file a written protest by the protest deadline. The statutory protest deadline is 30 days after the appraisal notice date or May 31, whichever is later, with the deadline being extended to the next business day if the calculated deadline falls on a weekend or holiday.