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This presentation provides information and guidelines for tax agents or attorneys representing property owners appealing their property assessments. It covers various approaches for property valuation and includes important deadlines and processes for submitting appeals.
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Tax Agent/Attorney Meeting Welcome
Substantial Information • Market sales approach – At least one comparable property in the same geographical area. • Cost approach – include all costs to build or rebuild the improvements plus the land value.
Substantial Information • Income approach • Complete and notarize the Income & Expense Statement (DOR) 82300 • Include a comparison to the market income • Please provide the physical address where the source documents are located (Affidavit section of the income/expense report) • Other – identify the specific areas of concern such as the legal class, rollover etc.
Agent Authorization • The form must be the Department’s current form.(dated in 2004) • Signed by the person who owns, controls or occupies the property • The signature date must be from January 1, 2012 and prior to the filing deadline (April 17, 2012) • We are not verifying the legal status of the person who signs the form.
Economic Units • May comprise of properties that are not contiguous or owned by the same owner. • They must be managed and operated on a unitary basis. • They must make a functional contribution to the operation.
Appeal Time lines • Notices mailed on February 17,2012 • Appeal filing deadline is April 17, 2012 • The Assessor’s deadline to answer the appeals is August 15, 2012 • The office’s goal is to have all appeals answered by August 1, 2012
Electronic Filing Process • No Change in the process from last year. • A drag and drop functionality exists for loading the forms. • Able to name and rename files while in the upload queue • A single data file can contain multiple appeals
Electronic Filing Process • Able to go back and review the history of previous submissions. • An e-mail confirmation will be sent a couple of minutes after your submission has been received. • Important – Correctly naming the documents helps assure we can timely answer your appeal.
Amended Notices • Total mailed 41,530 • This number was caused due to an anomaly in the calculations due to the converting from the Department of Revenue’s system to Marshall & Swift’s system. • The majority are higher than the original calculations.
Statistics on Amended Notices Total Full Cash Value Noticed $70,602,560,585 Supplemental $72,168,235,890 Difference $ 1,565,675,305 These numbers include the exempt properties.
Commercial Legal Class • The Notices were printed with a 20% ratio instead of the 19.5% ratio • A letter will be sent out to the property owners as to the correction. (Thursday the 23rd) • The Appeal deadline is not affected since the Statutory information is correct.
Assessor’s Meetings • We will be limiting the meetings to 15 minutes • We will have a Preliminary Position • The staff will share the information • If new information is supplied by the petitioner at the meeting, the appraisal staff will review it prior to their opinion of value is finalized
Appeals Meetings • The Assessor’s staff will provide you with a copy of the Preliminary Position once both sides have signed the Declaration Form. • Notification of reductions for one million dollars or more will be sent to the Mr. Russell, Mr. Boncoskey and Mr. Boisvert. • Testing an electronic meeting notification process. (Land Division)
Primary Meeting Locations 301 W. Jefferson Street: Commercial Land Agricultural Mobile Home 501 W. Jackson Street: Residential Land
Rejections Process • Appeals that are not in compliance will be rejected. (Incomplete forms or missing agent authorization form) • The rejection letter will be sent certified. • The Statutory 15-day re-submittal is required.
September Notice of Change • File directly to the State Board • I would request that you would e-mail your supporting documentation to us. • It would allow the appraisal staff to complete a more thorough review before finalizing their opinion of value. • Information will be coming on who should receive the documentation for review.
2012 SBOE Appeals Statistics Parcel Counts SBOE Level Total Count 19,892 No Change # 11,767 Reduction # 8,125 Assessor’s recommendations at the SBOE Level were 11.8% out of the 40.8% in total reductions.
