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Lincoln County approves Vanguard license for CAMA income module to add income approach for commercial valuations
Summary
The county board authorized the chair to sign a $4,750 license with Vanguard Appraisals to add an income-approach module to the assessor’s CAMA software; the assessor described the module as a tool to streamline commercial property valuations and protests.
Julie Stinger, Lincoln County assessor, told the board the assessor’s office asked to add Vanguard Appraisals’ income-approach module to the county’s CAMA (computer-assisted mass appraisal) system to make commercial valuations easier and to better process protests that include income information.
“Right now, we have, you know, some that we do, but it's all hand and calculated and stuff. So, this would make it much, much easier,” Stinger said. The license is a one-time fee of $4,750; the office also presented a separate service contract with an estimated first-year cost of $1,100.
Stinger and County Appraiser Henry Vogt explained the module will accept income and operating data submitted by taxpayers and provide a structured income-capitalization valuation; the county will continue to set cap rates and verify income documents. Vogt described how the office uses overrides when adjoining parcels are valued as a single tract and said the module would give assessors a more uniform, defensible approach for properties where the income method is appropriate.
Commissioners asked how many commercial parcels might use the income method; the assessor estimated the county has roughly 2,500 commercial properties, though “not all of them would probably utilize the income approach.” Stinger said the office had budgeted for the license and preferred to implement the module ahead of the next commercial review cycle.
The board voted to authorize the chair to sign the license agreement. At the same meeting the board separately authorized the chair to sign the annual service contract with Vanguard.
