Our Appraisers physically inspect 1/ 4th of the County every - PowerPoint PPT Presentation

Chelan � County Thursday, � M ay � 24th N ORTH W ENATCHEE A REA , � C YCLE 2 Chelan � County � Fire � #11 Deanna � Walter, � Chelan � County � Assessor

• Appraisal � Process • M arket � Trends • Question � & � Answer Deanna � Walter, � Chelan � County � Assessor

Deanna � Walter, � Chelan � County � Assessor

Our � Appraisers � physically � inspect � 1/ 4th � of � the � County � every � year �� (Approx. � 12,000 � parcels) Cycle � 3: �� Cycle � 1: �� Cycle � 2: �� Cycle � 4: �� Blewett � Pass, � Stemilt � Basin, � S. � N. � Wenatchee, � Lake � Chelan, � Leavenworth, � Wenatchee, � Sunnyslope � & � M anson � & � Plain � & � Lake � M onitor � & � Entiat Stehekin ��� Wenatchee Cashmere Inspection � Year: �� Next � Inspection � Next � Inspection � Next � Inspection � 2018 Year: �� 2020 Year: �� 2019 Year: �� 2021 Deanna � Walter, � Chelan � County � Assessor

Using � land � only � sales. �� The � first � acre � is � Value � land � always � the � most � valuable. as � if � vacant Using � standard � cost � manuals � we � “build” � the � Add � any � existing � existing � structures � on � the � property � improvements � (structures) (replacement � cost � new � minus � depreciation ) Compare � raw � values � to � sale � prices � for � Sales � market � adjustments � (M ass � Appraisal). �� Analysis Sales � from � 2017 � are � predominately � used � to � set � the � 2018 � assessed � values � (2019 � (M ass � Appraisal) taxes)

• S tate � 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 � Walter, � Chelan � County � Assessor

• Fee � (Single) � Appraisal: – Uses � comparable � sales � which � are � similar � to � the � subject � property. – S ales �� are � identified � that � best � represent � the � subject � property. • M ass � (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 � Walter, � Chelan � County � Assessor

Deanna � Walter, � Chelan � County � Assessor

Deanna � Walter, � Chelan � County � Assessor

Deanna � Walter, � Chelan � County � Assessor

Deanna � Walter, � Chelan � County � Assessor

Deanna � Walter Chelan � County � Assessor 509.667.6365 www.co.chelan.wa.us/ assessor

Note: �� If � searching � by � property � address � just � use � the � house � number � (no � street).

Deanna � Walter, � Chelan � County � Assessor