C ASHMERE A REA , C YCLE 1 Cashmere Middle School Deanna W alter, - PowerPoint PPT Presentation

Tuesday, April 3 0 th C ASHMERE A REA , C YCLE 1 Cashmere Middle School Deanna W alter, Chelan County Assessor

• Appraisal Process • Market Trends • Question & Answ er Deanna W alter, Chelan County Assessor

Deanna W alter, Chelan County Assessor

Our Appraisers physically inspect 1 / 4 th of the County every year ( Approx. 1 2 ,0 0 0 parcels) Cycle 3: Cycle 1: Cycle 4: Cycle 2: Blewett Pass, Stemilt Basin, N.Wenatchee, Lake Chelan, Leavenworth, S.Wenatchee, M anson & Sunnyslope & Plain & Lake M onitor & Entiat Stehekin Wenatchee Cashmere Next Inspection Next Inspection Inspection Y ear: Next Inspection Y ear: 2022 Y ear: 2020 2019 Y ear: 2021 Deanna W alter, Chelan County Assessor

Value Using land only sales. The first acre is alw ays the m ost land as if valuable. vacant Using standard cost m anuals w e Add any “build” the existing structures existing im provem ents on the property ( replacem ent ( structures) cost new m inus depreciation ) Com pare raw values to sale prices for m arket adjustm ents Sales Analysis ( Mass Appraisal) . Sales from ( Mass 2 0 1 7 are predom inately used to Appraisal) set the 2 0 1 8 assessed values ( 2 0 1 9 taxes) .

• Fee ( Single) Appraisal: – Uses comparable sales which are similar to the subject property. – Sales are identified that best represent the subject property. • Mass ( Groups) Appraisal: – Uses large quantities of sales to develop statistics from the data. – Results of analysis are applied to a group (neighborhood) as a market adjustment (percentage). Deanna W alter, Chelan County Assessor

• State law requires assessed values reflect 100% of fair market value • We can only use closed arm’s length sales • DOR restriction on what sales we can/ cannot use for analysis (WAC 458-553-080) – E.g. sale between relatives, bankruptcy, sheriff sales, tax deeds, gift deeds, forced sales, classified land under RCW 84.34, etc.) Deanna W alter, Chelan County Assessor

Deanna W alter, Chelan County Assessor

Deanna W alter, Chelan County Assessor

Deanna W alter Chelan County Assessor 5 0 9 .6 6 7 .6 3 6 5 w w w .co.chelan.w a.us/ assessor