1. Conduct a web search to locate a property appraiser’s
office in your area.
Q1: Does your
property appraiser offer a web mapping site? If so, what is the web
address? If not, what is the method in which you may obtain
the data? Martin County has both a GIS
site and a separate appraisers site both.
Appraiser site: https://pa.martin.fl.us/tools/property-map-searches
, http://geoweb.martin.fl.us/general/.
2. Most property appraiser’s websites offer a list of recent
property sales by month. Search for the month of June for the current year and
locate the highest property sold.
Q2: What was the
selling price of this property? What was the previous selling price of this
property (if applicable)? Take a screen
shot of the description provided to include with this answer.
The highest selling price was $210,000.00. The previous selling price was $93,000.00
3. The selling price and assessed price will differ in most
cases (higher or lower). You may choose to search for a different property
based on location/owner name or use the same result from the previous question
to answer the following questions.
Q3: What is the
assessed land value? Based on land record
data, is the assessed land value higher or lower than the last sale price? Include a screen shot. The assessed land value is $72,000. The assessed land value is lower than the
last sale price.
Q4: Share additional
information about this piece of land that you find interesting. Many times, a link to the deed will be
available providing more insight to the sale.
If you look at the assessment and exemptions information for this
parcel, you will note the drastic jump in land value during 2006-2007. This was when the Florida real estate market
was extremely over inflated which led to the subsequent economic downturn
affecting property owners, home buyers, developers, surveyors, engineers and
the like. Values have begun to increase
in the last two years and will hopefully return to a more normal level. This is also evident by looking at the land
value from the past two years. The
Warranty Deed for this property is recorded in Official Record Book 2858, Page
1546.-
Part two of this lab focused on understanding and mapping assessed values. For ethical, political and legal reasons, such assessments must be performed equitably. Items affecting value include lot size, improvement size, age, condition, location, proximity to waterfront and land use. Within these areas there is usually a diverse mix of land values between neighboring parcels due to various combinations such as mixed zoning, varying home values, and homes ranging greatly between age. More uniform areas typically have more uniform values as can be seen in subdivisions. Our job was to review West Ridge Place subdivision and determine if there were any accounts which needed to be reviewed in order to maintain fair and equitable assessments. Here is the resulting map created for analysis purposes:
Q5. Which accounts do
you think need review based on land value and what you’ve learned about
assessment?
Based on the graphic analysis, there are seven parcels which
I would review. Parcel 090310165 stands
out as it has one of the highest values.
Parcels 090310175, 090310320, 090310325, 090310260 and 090310245 have
slightly lower values than the majority of the adjacent properties. Parcel 090310105 has a lower value than the
adjacent properties.
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