Valuation Based on Zoning

1. Paul D. Petersen ASSESSOR Valuation Based on Zoning Presentation By Tom Rief Title/Mapping Manager David “Beau” Boisvert Chief Appraiser

2. Paul D. Petersen ASSESSOR Subdivisions don’t just happen

3. Paul D. Petersen ASSESSOR Subdivisions don’t just happen

4. Paul D. Petersen ASSESSOR Subdivisions don’t just happen

5. Paul D. Petersen ASSESSOR Subdivisions don’t just happen • A lot of work & energy go in to developing one • Purchase land / assemble ownership / Survey • Zoning & Entitlements • Entitlements & Zoning • Plat must include measurement & dimensions…. • Lots, tracts, easements, common areas • Number each lot, tract, etc. • Dedicate roads, w/ acknowledgements • Govt. approval (prior to recording)

6. Paul D. Petersen ASSESSOR Recording the plat • Why? Law req. public notice of changes to real prop boundaries or ownership • How? County Recorder’s Office satisfies law • What? Recorder assigns # to each plat (MCR) • However? There are numerous subs in the county w/ same name but MCR is unique to each

7. Paul D. Petersen ASSESSOR Assigning Parcel Numbers • It’s an accounting function…….. • County divided into several Books, • Broken down into Maps • Pages • Each page contains several large parcels • Further broken down into unique ‘parcel numbers’ for taxation purposes

8. Paul D. Petersen ASSESSOR Mapping……. • Identify property via legal description • Assign next available pre-set # • Unique identifier for Treasurer • We generate maps showing all new parcels & boundaries • Simplified CAD process for subs • Maintain County’s parcel fabric in a geospatial environment

9. Paul D. Petersen ASSESSOR Mapping…….

10. Paul D. Petersen ASSESSOR Mapping…….

11. Paul D. Petersen ASSESSOR What’s next? • APN’s = permits = construction = $$$ • Expedite? • The better the plat (ownership, etc.) & CAD submittal = time = APN’s = …………. • (res. or comm.) • Valuation

12. Paul D. Petersen ASSESSOR Value & Timing

13. Paul D. Petersen ASSESSOR Statutory vs. Typical Influence • Current Use – The use to which property is put at the time of valuation by assessor or department. • Highest and Best Use – The most probable use of a property that is: • Physically possible • Legally permissible • Financially feasible

14. Paul D. Petersen ASSESSOR A Picture of the Purchase • A snap shot at the time of the Sale Date • What was the land size? • What were the characteristics? • Land • Improvement(s) • What is the Current Use? • Supported by the zoning • Contradicts the zoning

15. The Valuation Process Paul D. Petersen ASSESSOR • Valuation Date: January 1st of the current year. • Valuation Year: The future year proceeding the year in which taxes are levied. • Calendar Year – 2014 (Taxes Levied) • Valuation Year – 2015 (Valuation Notice mailed) • Current use as of the Valuation Date

16. Paul D. Petersen ASSESSOR General Groupings Three primary groupings and secondary groupings: • Residential Single family Multi-Family • Commercial General Commercial Industrial Office • Vacant Land Based on what the zoning was at the time of the sale occurs

17. Paul D. Petersen ASSESSOR The Influence on the Purchase Price • Location • Amenities • Able to change the zoning • Purchase Rate Ranges in General • General Commercial • Office • High Density Multi-Family • Industrial • Single Family/Multi-family (under 12 units)

18. Paul D. Petersen ASSESSOR Example of Vacant Land The land size is 43,560 square feet

19. Map of the Example Paul D. Petersen ASSESSOR I-17 Freeway I-10 Freeway

20. Example of Improved Property The land size is 108,900 square feet Paul D. Petersen ASSESSOR

21. Conclusion Paul D. Petersen ASSESSOR • The Zoning does influence the full cash values of the properties • If the current use does not support the zoning, there is no influence • The current use as of January 1st of the current year establishes the full cash for the future year.

22. Questions Paul D. Petersen ASSESSOR Contact Information: Tom Rief #602-506-7219 David Boisvert #602-371-1629 Thank You