Get email alerts on the Valuation Methods topic
No spam. Unsubscribe anytime.
Staff explains why some parcels saw land values rise while improvements fell
Summary
Board members asked why some property owners show increased land values but lower improvement values; staff said land had been undervalued and applying consistent land adjustments can reduce the relative improvement value even when overall assessed value rises.
A board member asked why some residents saw their land value increase while improvement values decreased. Dean explained the sales-comparison method and said that, for some neighborhoods, land had been more undervalued historically and that making land values consistent can alter the improvement breakdown.
"When we do a sales comparison approach, we compare properties to the ones that have sold," Dean said, describing the valuation method and why the improvement component can appear to fall even when total assessed value rises. He emphasized that what matters is the overall assessed value and that the land component drove the relative change in some areas.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
