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From YouTube: Board of Equalization Hearing - June 24, 2020
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A
A
C
Good
morning,
everybody,
my
name
is
Tressa
Vitus
and
I
am
the
appraiser
for
zero.
Four
zero
zero,
two
zero
one
six,
the
subject
property
is
a
one-story
brick
home
built
in
1956
with
an
effective
age
of
nineteen.
Ninety
six,
the
home,
has
3
bedrooms
and
2.5
baths.
The
appellate
submit
an
appeal
because
they
felt
based
on
recent
sales
in
Arlington.
Their
property
was
assessed
too
high.
The
property
has
had
no
improvements,
renovations
or
additions
since
its
purchase
and
has
no
external,
immediate
amenities,
such
as
a
deck
porch
or
patio.
C
The
appellant
gathered
sales
of
homes
was
similarly
assigned
elementary
school,
elementary
middle
and
high
schools
to
the
subject
property.
The
sale
submitted
to
the
department
by
the
appellant
are
not
considered
to
be
comparable
for
a
variety
of
reasons:
zero:
three:
zero:
six:
zero,
zero,
zero
five
was
an
off-market
sale
and
not
considered
to
be
a
valid
sale.
C
Zero:
five
zero
one:
six:
zero,
zero,
three:
zero:
two:
zero:
eight:
five:
zero:
three:
eight
and
zero:
two
zero
one,
nine
zero
one
ten
were
all
in
different
neighborhoods
with
lower
location
multipliers,
zero,
three
zero,
four,
seven
one,
two
three
was
purchased
by
the
Delta
concrete
corporation
and
currently
has
active
permits
for
a
demo
and
a
new
single-family
Delic
dwelling.
It
is
viewed
to
be
a
land
sale
and
is
not
a
valid
sale.
C
The
appellant
also
submitted
comparables
and
is
determining
value
based
on
the
average
assessment
of
these
four
comparables,
which
is
not
an
accurate
valuation
method.
Given
that
the
assessment
comparables
have
different,
effective
ages
and
descriptive,
factors
on
the
improvement
did
affect
the
body
value
we
conducting
mass
appraisal.
The
focus
is
on
valuing
liked
properties
that
are
grouped
in
neighborhood
and
geographically
close
to
each
other
and
not
by
school.
C
Sounds
school
zones
can
spend
many
different
neighborhoods
with
a
variety
of
different
properties
and
do
too
and
due
to
their
range,
is
not
in
or
not
a
driving
factor
in
valuations.
Any
impact
that
a
school
zone
has
is
reflected
in
the
sales
last
year
in
2019.
The
subject
property
was
reviewed
for
similar
reasons.
It
was
determined
that
the
assessment
was
incorrect,
the
appropriate
changes
were
made
and
the
home
was
revalued.
The
overall
condition
of
the
property
is
in
line
with
the
gear
built
of
1956.
C
C
D
A
A
A
E
Good
morning
to
everyone
again,
I
would
like
to
thank
the
board
members
for
taking
the
time
to
hear
this
appeal
and
for
reviewing
the
documents
we
submitted
in
April.
At
the
time
we
filed
a
appeal
by
way
of
background.
We
purchased
this
property
in
September,
2011
and
they're,
appealing
the
department's
increase
in
the
SS
tax
value
of
the
property
from
980
3700
last
year
to
a
million
26100
for
2020
over
seventy.
E
Three
percent
of
the
increased
assessment
comes
from
an
increase
in
the
improvement
value,
despite
the
fact
that
we
have
not
made
any
additions,
expansions
or
renovations
to
the
home
since
people
changed
it
in
2011.
As
discussed
in
detail
in
our
written
submission
of
April
15th,
we
feel
that
our
property
has
been
assessed
in
2020
at
more
than
its
market
value,
basement
prices
or
similar
properties
sold
during
the
analysis
period.
Moreover,
we
feel
that
a
property
has
also
not
been
appraised
in
a
manner
equitable
with
similar
properties
during
the
analysis
period.
E
Finally,
the
data
on
comparable
property
sales
during
the
analysis
period
that
we
identified
closely
aligned
with
the
tax
assessments
of
properties
identified
to
be
similar
to
our
property.
Us
analysis
of
each
of
these
two
distinct
data
sets
yields
the
same
conclusion,
namely
the
department's
20/20
assessment,
significantly
overstates
the
value
of
her
property.
E
The
differences
in
the
department's
proposed
comparable
sales
and
those
identified
in
our
analysis
came
in
large
part
from
the
department's
exceedingly
narrow
geographic
view
of
the
appropriate
neighborhood
for
selecting
comparable
sales,
not
surprisingly,
even
the
smaller
sample
of
available
to
the
department
during
the
analysis
period,
their
proposed
comparable
property
sales
show
significant
differences
in
key
determinants
of
market
valuation
when
compared
to
our
property.
These
differences
are
readily
seen
when
comparing
table
1
on
page
2,
with
table
3
on
page
5
of
our
April
15
memo.
E
For
example,
all
three
of
the
department's
proposed
comparable
since
a
larger
interior,
finish
space,
whether
measured
by
the
number
of
bedrooms
bathrooms
or
over
finished
square
foot
of
the
property,
in
contrast
to
our
property,
which
has
three
bedrooms
and
two
and
a
half
baths.
All
three
of
these
proposed
comparable
properties
of
the
department
have
four
bedrooms
and
three
baths.
Two
of
the
three
post
comparables
are
substantially
larger,
total
finished
square-foot
one
approaching
nineteen
hundred
square
foot,
the
other
exceeding
1,800
compared
to
the
1533
square
foot
for
our
property.
E
Moreover,
all
three
properties
proposed
for
the
comparables
have
external
structures
such
as
patios,
decks,
bulges
and
other
additional
facilities
that
are
altogether
missing
in
our
property.
We
have
provided
the
Department
with
photographs
of
some
of
these
external
facilities,
for
the
comparable
properties
being
proposed
by
the
department
exhibit
one
and
two
are
photographs
of
3687
north
nelson
spree,
which
has
a
large
flagstone
patio
with
a
retaining
wall
as
well
as
two
separate
car
garages.
E
The
property
3744
not
30th
place
has,
by
far
the
most
extensive
array
of
external
structures
that
far
exceeds
that
what
would
be
typical
of
a
Rambler
with
total
finished
space
comparable
to
our
property.
For
example,
this
comparable
has
three
wood
decks,
one
of
which
is
described
as
a
gazebo,
three
brick
patios
and
a
large
enclosed
porch.
We
have
provided
for
photographs
of
all
these
structures
for
the
7:44,
not
30th
place
with
our
submission.
E
Finally,
in
light
of
these
significant
differences
between
the
comparable
property
sales
and
our
property,
the
sales
price
of
these
properties
would
overstate
the
market
value
of
our
property.
The
department
has
not
provided
any
explanation
as
to
how
they
arrived
at
the
2020
assessed
value
of
our
property,
based
on
the
sales
prices
of
these
three
comparable
sales,
for
example,
37
44
not
30th,
place
sold
for
1
point
1,
4
million
substantially
above
the
20/20
assessed
value
proposed
by
the
Department
of
1.02
six
million
because
of
all
the
external
facilities
described
above.
E
In
addition
to
the
greater
number
of
bedrooms
and
baths,
the
department
has
not
provided
any
explanation
of
how
the
assessed
value
of
one
point:
zero
to
six
million
relates
to
or
can
be
derived
from,
the
comparable
sales
price
of
one
point:
one:
four
million,
in
contrast
to
the
narrow
view
of
the
appropriate
geographic
neighborhood
for
selecting
comparable
sales.
The
department
is
proposed.
E
We
have
defined
close
geographic
proximity
between
our
property
and
proposed
comparable
properties
by
comparing
the
assigned
elementary
school
middle
school
and
high
school
to
the
different
properties,
because
we
know
that
quality
of
local
schools
are
a
key
determinant
of
property,
P
values.
Based
on
that
approach,
we
identified
five
comparable
property
sales
during
the
analysis
period
and
table
1
and
table
immediately
below
it.
E
Have
this
as
well
and
an
additional
bathroom
compared
to
our
property?
In
fact,
these
five
comparable
properties
are
much
more
closely
aligned
in
key
characteristics
is
our
property.
We
have
proposed
that
the
average
sales
price
of
960
1000,
based
on
the
5,
comparable
sales
we
identified
all
the
midpoint
of
the
range
of
values
of
960
thousand,
would
be
a
far
more
reliable
basis
for
assessing
the
tax
value
of
a
property.
E
D
I'll
follow
up
with
my
initial
question
before
our
pilot
arrived
and
recap
that
very
quickly,
but
it's
still
a
a
follow-on
question
for
the
department
I
asked
before
the
appellant
was
able
to
join
us
about
determining
a
neighborhood
based
on
proximity
and
not
public
schools,
access
to
public
schools
and
and
that
standard
practiced
throughout.
This
is
a
question
but
a
minor
question
standard
practice
throughout
the
assessment.
American
assessment
public
assessment
community
right:
it's
not
schools,
but
rather
proximity
houses.
Another
based
on
sales
patterns
is
that
right
and
I'm
gonna
follow
up
correct.
D
So
the
other
related
directly
related
point.
The
appellant
product
was
determining
the
the
variables
among
various
properties
such
that
they
would
be
other
than
public
schools,
comparable
proximity,
neighborhoods
and
public
schools
and
I
wanted
to
know
if
you
discussed
the
programs
that
are
the
computer
program,
software
programs
that
are
used
by
the
Department
of
assessments
and
I
presume
throughout
the
country
in
order
to,
in
our
case,
get
forty
thirty
thousand
residences
to
mix
and
match,
based
on
their
various
characteristics
such
that
we
make
some
intelligent,
appropriate
mass
appraisal.
D
F
G
Sure
supervisor,
and
have
also
reviewed
the
case
yeah
just
for
informational
purposes.
We
use
software,
which
is
computer,
assisted
mass
appraisal
software,
which
allows
us
to
figure
out
the
cost
to
replace
each
structure.
So
in
this
case
it
was
brought
up
there.
There
are
many
exterior
features
on
other
properties
and
what
we
do
is
we
physically
visit.
These
properties
will
measure
each
feature
will
measure
the
improvements
that
are
on
the
land
and
will
sketch
all
those
into
our
camera
software
system
and
figure
out
the
cost
to
replace
those
features
and
improvements.
G
And
then
we
take
out
depreciation
and
once
we
find
that
that
gives
us
our
cost
approach
value
and
then
what
we
do
is
we
research
the
sales
in
each
neighborhood?
We
don't
use
school
zones
because
school
zones
can
cover.
You
know
vast
parts
of
the
county,
so
we
focus
more
so
on
neighborhoods
and
like
properties
in
those
neighborhoods,
and
we
research
the
sales
through
MRIs
and
through
visiting
the
properties
and
talking
to
homeowners,
and
then
we
use
the
sales
ratios
to
apply
a
location
multiplier
to
our
cost
approach.
A
C
Again,
the
home
was
reviewed
last
year
in
2019,
where
adjustments
were
made
this
year
in
2020.
No
adjustments
were
made
to
the
record.
Any
increase
that
came
to
value
came
from
the
overall
sales
analysis
in
overall
increase
from
the
sales
analysis.
I
recommend
that
the
2020
assessment
be
confirmed
at
1million
26100.
A
E
I
would
like
to
say
that
the
five
comparable
properties
we
selected,
all
very
close
radius
of
our
property,
may
be
within
two
to
three
miles.
It's
not
as
though
these
schools
that
we
use
to
make
sure
that
the
assigned
schools
were
similar
led
us
to
select
properties
that
were
very
far
away
geographically
from
where
our
property
is
located.
E
And,
finally,
we
have
explained
in
a
memo
why
we
think
that
the
off-market,
sale
and
sale
and
purchase
by
the
construction
company
for
two
of
the
comparable
properties
would
not
be
relevant
factors
in
excluding
them
as
reliable,
comparable
for
assessing
the
tax
assessment
for
our
property
in
2020.
Finally,
we
do
know
we
do
know
that
there
is
a
convergence
in
the
two
approaches
we
talked
with
specimens:
okay,.
H
Well,
I
I'm,
going
to
start
with
this
I
know
the
information
that
the
appellant
provided
is
very
compelling
very
inexpensive.
I
know
that
he
looked
at
all
the
other
properties
throughout
felici
physically.
What
was
there
and
what
was
not,
but
you
know
looking
overall,
not
only
of
the
neighborhood
might
be
comfortable.
Is
that
we're
providing
on
the
sales
that
are
happening
in
the
in
the
area?
I
think
everything
is
pretty
much
in
line.
I
know
there
is
a
difference.
H
A
You
know
I
would
agree,
I
mean
just
from
the
standpoint
of
Equalization
when
you
look
at
the
three
comps
that
the
county
used
there
in
the
neighborhood
I
understand
the
appellant
using
a
school
district
and
going
further
out,
but
from
a
standpoint
of
tax
assessing
and
Equalization.
You
know
that
really
would
kind
of
put
the
whole
thing
out
of
skew.
But
when
you
look
at
the
three
comps
you
know,
and
the
appellant
brought
up
a
good
point
that
especially
the
one
on
30th
place
is
a
much
larger.
A
You
know
far
more
nice
cities
if
you
will
to
the
property,
but
when
you
look
I
mean
the
the
building
assessment
it's
over
a
hundred
thousand
dollars,
one
hundred
and
four
thousand
dollars
higher.
You
know
so
I
think
that
that's
all
weighed
out
there,
so
I
I
really
am
struggling
to
see
where
we
could
do
any
kind
of
adjustment.
D
Echo
you
too,
and
and
I
just
want
to
add
the
the
property
owner
did
a
great
analysis,
but
it's
not
in
tune
with
standard
practice
throughout
the
country
on
what
decision
criteria
to
use
there
were,
if
we
knew
nothing,
they'd
be
perfectly
appropriate
decision
criteria,
but
the
pros
over
decades
have
decided
that
different
criteria
are
used
and
that's
what.
Of
course,
we
need
to
be
bound
by
mm-hmm.
D
A
A
B
A
A
I
A
J
Fifty
to
fifty
seven
North
Colonie
spring
about
the
intersection
of
the
green
briars
and
I'm,
they
calling
you
spring.
The
house
is
twelve
years
old
and
is
felt
in
the
mm
finished
by
2008
and
located
between
the
5251
note
calling
a
spring
to
the
left
and
to
the
right
50
to
75
note
calling
a
spring
and
the
value
of
the
houses
in
that
area
did
before
I
go
to
the
value
of
that.
J
All
know
about
the
house,
because
it's
been
shown
I
can't
explain
anything.
His
average
houses
is
an
average
house,
but
the
value
that
the
county
is
set
up
for
that
house
in
the
past
four
times
three
times
I
rejected
and
the
real
estate
agent
from
you
guys
come
in
there
and
look
at
the
house
by
the
time
they
come
on
II
and
they
said
wow.
What
a
beautiful
Persian
rug
you
have.
Okay
is
a
Persian
rug.
It
is
the
value
for
the
houses
appropriately
to
your
estimator
or
value,
or
what
a
beautiful
crown
molding.
J
You
have.
Okay,
I,
don't
know
that
the
crown
molding
has
a
value,
bringing
the
value
to
the
house,
so
they
look
at
it
and
they
go
and
I
see.
The
house
has
valued
for
over
1.4
million
to
1.3
4
million.
At
this
point,
I
have
two
pecans.
First,
two
companies
that
they
are
my
friend
and
they
are
you
know,
came
to
look
at
the
house.
J
The
house
is
a
three-bedroom
three
full
baths
and
the
three
bedroom
three
bedroom
in
the
second
floor
and
in
the
first
floor
is
a
living
room,
dining
room
and
the
kitchen
is-
and
this
is
the
property
they
are
looking
at.
They
saying
to
me
that
this
house
is
not
valued.
They
are
wrong,
they
are
not
valued.
Nobody
is
going
to
pay
one
point
three:
four
million
dollar
for
this
house.
J
The
maximum
full
value
of
this
house
is
not
more
than
you
know:
1
million
350
thousand
to
1
million
100,
because
the
neighbor
behind
it
beside
it
is
not.
There
is
no
value
for
the
houses
in
to
the
neighbor
that
it
when
it,
you
know
give
the
value
for
this
house,
for
example,
50
to
51
is
a
value
for
$650,000
and
then
50
to
75,
which
is
the
house
has
is
like
the
hotel.
San
Francisco
is,
is
about
12
people
living
in
that
house,
and
they
renting
it
to
the
several
people.
J
I,
don't
want
to
say
anything
about
who
they
are
and
what
they
are,
and
the
traffic
in
that
house
is
so
much
that
there
is
no
real.
You
know,
but
he
is
going
to
you-
know,
pay
damn
amount
of
the
prices
for
my
house.
This
is
the
way
that
we
feel
it
and
down
to
the
50
to
75
and
50
to
77
is
$685,000
be
valued
by
the
county.
These
are
the
the
neighbor
behind
us,
which
is
the
fifth
lips
region.
J
Houses
behind
me
is
which
is
in
the
fifties.
Street
is
a
quiet,
is
a
$550,000
by
the
county,
is
the
old
house
and
is
about
4045
years
old.
The
neighborhood
is
not
a
neighborhood
that
it's
gonna
give
the
value
for
this
house
for
1.4
million
dollars.
That's
my
objection
on
that
and
that's
my
opinion
and
everybody
is
going
to
look
at
it
because
has
their
colony
in
front
of
it
doesn't
mean.
That
is
what
you
know
is
valued
that
much
that's
the
way
that
we
feel
about
it.
That's
all
I
can
say
about.
K
A
problem
good
morning
board
nice
to
see
everyone
again.
My
case
this
morning
has
a
long
history
of
appealing,
with
no
new
supporting
documents
really
being
provided
on
this
particular
go-around.
An
exterior
property
inspection
was
conducted
on
310
2020
at
10
a.m.
with
Ibrahim
mastani,
the
homeowner
and
Travis
Sheldon.
As
a
second
appraiser.
The
actual
interior
inspection
was
denied
due
to
coronavirus
concerns.
Understandably
so
so
I
was
only
able
to
do
the
interior
inspection
from
the
front
door
at
the
back
door
and
a
side
door.
The
county
felt
comfortable
moving
forward
with
this
case.
K
K
So
a
quick
description
of
the
property
is
that
it's
a
two-story,
brick
house
with
three
bedrooms:
four
and
a
half
baths
and
a
finished
basement.
It
was
built
in
2005
with
an
effective
age
of
2005
and
a
quality
of
excellent.
The
appellant
feels
his
assessment
should
be
more
in
line
with
the
average
property
for
his
neighborhood.
The
appellant
property
is
clearly
superior
when
compared
to
the
average
property
on
Carlin
Springs
in
his
neighborhood.
The
subjects
square
foot
alone
puts
it
within
the
five
largest
properties
in
the
neighborhood.
K
The
closest
indication
of
value
of
the
county
can
provide
is
sales
comp
number
one,
it's
smaller
and
inferior
compared
to
the
appellant
property,
but
still
commanded
a
sales
price
over
one
point,
two,
the
reason,
the
subject
property
is
greater.
The
way
it
is
is
largely
due
to
the
fact
that,
through
connections
or
himself,
mr.
Estonia
did
all
the
work
himself
and,
as
a
result,
he
disagrees
with
the
costing
tables
provided
by
our
camp
system.
K
The
appellant
neighborhood
county
recognizes
us
for
a
504
zero
five
for
increased
on
average
of
five
point
six
three
percent
due
to
sales
that
occur
in
the
neighborhood
during
the
analysis
period,
the
property
is
greater
in
effective
age,
appear
in
line
with
the
neighborhood
and
current
condition.
An
exterior
inspect
inspection
was
conducted
and
no
change
were
made
to
the
record
as
a
result
of
the
review.
The
inspection
and
information
submitted
the
County
determined
that
this
EPS
the
assessment
was
fair
and
equitable.
H
A
K
The
case
position
on
this
case
is
that
the
subject
is
larger
and
more
improved
than
the
average
property
in
the
neighborhood.
As
stated,
this
is
one
of
the
five
largest
properties
in
the
neighborhood
sales.
Comp
number
one
is
the
best
indicator
of
value
for
the
neighborhood
for
this
particular
property,
mr.
Astana's
ability
to
contract
work
at
a
good
price
is
not
reflected
in
our
costing
tables.
You
know
we
do
mass
appraising
and
we
apply
the
same
costing
tables
for
for
everyone
as
a
result
of
the
review.
K
F
J
Disagree
with
team
I
remember
the
gentleman
that
came
to
the
house
by
the
first
time
he
looked
at
the
inside
the
house.
He
look
at
the
he
says:
well,
what
a
beautiful
crown
molding
you
have
if
the
beautiful
crown
molding
to
you
was
the
value
of
the
houses.
I,
don't
think
so.
The
value
of
the
house
is
whatever
the
neighbor
has
to
be
bringing
it
up.
This
house
is
not
going
to
bring
up
if
there
is
a
one-point
three
four
million
dollars
Eunice's
for
that
is
not
going
to
worth
it.
H
Is
there
really
the
value,
therefore,
this
property
based
on
just
looking
at
the
homes
that
are
there?
It
doesn't
look
like
it,
but
you
know
you
look
looking
at
what
the
house
has
inside
and
the
space
that
it
has.
I,
don't
see
that
you
know
tabulates
to
me
it's
one
of
those
white
elephants
in
a
like
many
other
areas
that
we
see
sometimes
looking
back
at
the
assessments
you
know
from
2013
to
now
it's
been
assessed
and
I
think
the
increases
have
been
applied.
H
There
is
no
other
information
that
the
appellant
provided.
You
know
I
wish
they
were
meeting,
maybe
other
comfortable
xander
homes
that
we
could
look
at.
But
you
know
we
have
nothing
and
it
is
the
burden
of
proof
on
the
appellant
to
provide
more
information
to
make
any
change.
So
I
don't
see
how
we
can
make
any
adjustments
here.
D
H
A
A
L
L
Can
you
see
the
strides
now
we
can
now?
Yes,
sir,
so
I'd
like
to
begin
that
the
one
of
the
purposes
of
the
sale
of
the
session,
the
values
of
the
property
so
to
provide
the
similar
its
taxed,
the
properties
that
have
the
same
sale
prices?
However,
unfortunately,
this
is
not
observed
for
our
property.
There
are
multiple
properties
that
some
are
included
in
our
comparison,
which
have
very
close
sale
prices
to
ours,
but
there
are
cells
considerably
lowered.
Moreover,
even
some
properties
with
higher
sale
prices
than
ours
are
assessed
considerably
lower.
L
L
However,
the
improvements
on
these
properties
are
remarkably
low,
whereas
s
than
our
property
340,000
on
average
sources.
Our
proposed
assessment
of
four
hundred
and
three
thousand
our
property
is
not
in
a
better
condition
than
these
comparables,
as
it
might
be
apparent
from
such
assessment.
It
is
actually
in
much
worse
condition
and
the
MLS
photos
attached
to
our
field
confirm
that
I
will
show
you
some
of
these
photos
in
this
presentation,
there's
a
full
document
which
compares
them
based
on
MLS
information
because
all
were
sold
in
the
assessment
period.
L
L
Inaccurate
assumptions
may
lead
to
over
assessment,
and
in
our
case
it
appears
that
such
assumptions
played
a
major
role,
because
the
assessment
model
is
based
on
replacement
cost
and
depreciation,
and
the
replacement
cost
so
much
lower
for
our
house
and
comparables
who
had
major
innovations
and
additions,
the
high-end
construction
materials
and
would
cost
more
to
replace.
Besides
normal
depreciation
assumes
that
average
level
of
homeowner
maintenance
applies,
but
our
property
was
not
adequately
maintained
and
consequently
appreciated.
More.
L
L
The
house
had
major
innovation
with
everything
over
cooled
and
it
was
done
with
high-end
finishes
and
construction
just
finished
basement.
We
have
seen
how
fast
versus
our
how
fast,
however,
its
improvement
is
valued
as
820
1000
Ichi
mm
lower
than
our
proposed
assessment.
It's
evident
that
replacement
cost
on
such
a
well
over
whole
property
is
considerably
higher
than
ours,
and
it's
similar
conclusions
would
be
done
if,
if
you
analyze
in
detail
three
other
comparables
a
couple
of
slides
just
to
illustrate
this
is
our
kitchen.
L
Everything
is
a
regional
builder-grade,
okay
between
obex,
flash,
laminates
basic
floors,
filter
great
appliances.
These
are
examples
of
kitchens
in
other
properties,
they
are
all
over
cold,
hard,
top
surfaces,
high-end
appliances,
fixtures
everything
has
been
redone
and
redone
very
expensively,
similar
to
master
bedroom
as
an
example.
This
is
our
property.
Everything
is
original.
You
know,
cabinetry
evade
basic
plastic
shower
enclosure.
These
are
busts
in
other
properties.
They
have
you
know:
glass,
shower,
enclosures
custom,
tile,
work,
gothic
showers,
everything
is
high-end.
L
County
responded
to
our
request
to
the
assess
property
that
this
assessment
is
in
line
with
the
neighborhood.
However,
looking
at
the
detail
response
the
energy
assessment,
the
neighborhood
is
highly
skewed
outward
by
assessment.
Succeed
in
sale,
prices
by
large
amounts
out
of
20
sales
that
they
submitted
in
their
response
to
us,
10
or
50
percent
exceed
sales
prices
they
assessed
up
up
to
to
109
percent
of
the
sale
price
was
average
of
hundred
and
3.8.
The
remaining
nine
properties
assessed
to
say
leverages.
L
Ninety
four
point:
eight
excluding
outtro,
this
layer
group
is
in
line
with
our
proposal
and
with
comparables,
which
averaged
94
percent
assessed
to
sale.
So,
in
summary,
I
would
conclude
that
replacement
cost
of
our
properties
overvalued
due
to
incomplete
information
about
its
condition.
Relative
to
comparables
I
arrived
to
fair
value
of
three
hundred
and
forty
three
thousand
nine
hundred
five
dollars
as
a
fair
value
of
improvement
assessment
based
on
average
for
comparables
three
hundred.
L
What
is
thousand
twenty-five,
plus
I
added
prorate,
the
difference
from
the
price
our
price
is
higher
by
twelve
thousand
150
dollars,
of
which
I
allocated
31.7%
or
three
hundred
eight
thousand
eight
hundred.
Eighty
dollars
an
additional
value
to
the
structure,
the
comparables
are
not
an
exception.
There
are
many
more
properties
like
that.
We
selected
those
two
very
closely
match:
sale
price.
There
are
multiple
other
properties
within
one
to
one
and
a
half
miles
from
our
property
which
have
sale
price
even
above
ours
and
the
at
our
cells
below
ours.
L
In
terms
of
value
of
improvement,
such
properties
assessed
to
sale
is
even
lower
about
ninety
one
percent,
but
we
are
not
using
them
in
this
comparison.
I'm
just
illustrating
you
that
this
is
not
an
exception.
The
the
the
problem
is
pervasive
and
finally,
I
would
say
that
for
fair
taxation,
I
think
it
would
be
to
their
property
that
properties
with
similar
sale
price,
not
just
similar
assessments,
similar
sale
price
in.
M
Morning,
board
I'll
be
presenting
for
the
county.
There
was
no
inspection
of
the
property
done
to
coronavirus,
but
the
property
was
visited
back
in
November
2019
or
an
exterior
inspection
by
the
previous
appraiser.
The
property
appears
fairly
corrected
to
the
1997
construction
and
the
information
gleaned
from
the
sale
listing
the
previous
appraiser
did
change
the
grade
from
very
good
plus
to
very
good
to
match
the
neighboring
property
three
five
one,
six,
seven
Street
north,
which
resulted
in
an
overall
decrease
of
the
property,
probably
2019
2020.
M
While
some
of
the
opponents
temporal
properties,
you
have
renovations
that
you've,
no
more
recent
effective
age
or
a
higher
quality
than
subject
property.
Each
assessment
is
made
up
of
most
variables
that
impact
the
final
set.
My
preferred
example
of
soil
property
number
to
be
614
Robert
Walker
plate
has
a
higher
quality
at
various
clubs
and
a
higher
effective
8
upon
15.
It
only
has
nineteen
hundred
and
eight
square
feet
of
finished
square
footage
compared
to
the
subject.
Property
is
2527
square
feet.
M
Similarly,
it's
on
couple
number
three
as
low
as
75
north
Taylor
Creek
has
the
same
quality
of
the
subject,
get
very
good
at
it,
but
only
16
hundred
and
nineteen,
where,
if
you
finish,
percolated
and
no
garage,
ultimately
$60,000
in
variation
across
property,
bringing
from
one
point
one
to
one
point,
two
million
dollars
can
be
accounted
for
by
any
number
of
factors
in
evaluating
the
estate
square.
Footage
finish
where,
for
this
quality
or
effective,
a
few
phones,
tumble
hoppity's
actually
do
an
adequate
job
of
affirming
the
count.
M
M
Additionally,
a
second
to
fill
ratios
vary
widely
across
the
neighborhood
across
a
neighborhood,
with
Geron
style,
with
housing
stock
be
positive,
definite
the
field
ratio
at
98.5
percent
compared
to
the
neighborhood
average
rate,
given
99.5
percent
the
county
doesn't
chase
sales
or
try
to
have
our
sessions
always
reflect
accurately
what
a
sale
price
was.
We
just
stand
by
our
data
and
do
our
analysis
on
that.
M
D
M
So,
as
I
said,
the
quality
was
produced
last
year
from
very
good
pasta,
very
good,
so
the
neighboring
house
I
believe
they
were
built
at
the
same
time
by
the
same
builder.
Was
that
very
good?
So
we
just
dropped
that
down
in
line
to
make
the
two
properties
the
similar
quality.
There
was
also
a
reduction
in
the
LM
for
the
neighborhood.
So
if
improvements
in
the
neighborhood
went
down
for
the
year,
it.
F
D
Yeah,
the
other
thing,
the
appellant
inferred,
the
department,
the
appellant,
said
that
the
quality
of
this
house
isn't
so
it's
builder-grade,
this
and
builder-grade
that
it's
quality
isn't
I'm
asking.
The
quality
is
based
more
on
basic
construction
materials
than
finishings,
like
cabinetry
and
and
and
and
bathroom
fixtures.
What
do
you
take
in
to
making
into
account
making
his
very
good
versus
the
comps,
which
are
lesser
quality
than
that?
Could
you
give
a
sentence
or
two
sure.
M
E
N
M
A
M
The
appellant
and
the
county's
comparable
properties
do
a
good
job,
affirming
the
subjective
properties
assessment
again
within
1.1
to
1.2
million
out
of
properties.
Sixty
thousand
dollars
can
be
accounted
for
by
various
components
of
each
property.
However,
the
appellant
own
recent
purchase
price
over
its
current
assessment
supports
the
county's
valuation
experimental.
Thank
you.
L
L
Thank
you,
so
I
would
still
point
your
attention
to
the
fact
that
the
assessments
in
the
neighborhood
are
far
exceeding
the
assessment
of
relative
to
sale,
price
and
the
key
thing
with
the
comparables
is
that
they
have
the
same
sale
price.
Therefore,
we
would
be
expected
to
pay
the
same
say
the
same
real
estate
tax,
so
this
principle
still
stands
and
I
understand
that
the
model
requires
inputs
and
can
generate
a
wide
range
of
outcomes.
L
However,
even
minor
deviations
minor
inaccuracies
in
such
case
may
lead
to
large
swings
in
valuation,
so
we
have
to
rely
on
sale
prices.
The
most
accurate
and
relevant
signal
in
this
case,
taking
into
account
the
model
valuation
and
the
sale
price
of
the
comparables
point
to
our
close
proximity
and
I.
Think
this.
A
D
So
I'll
start
a
couple
of
observations.
What
is
it
I
find?
The
sales
prices
are
really
good
comparables,
although
it's
certainly
one
of
the
sales
is
you
know
the
improvements
so
much
less,
but
if
the
prices
are
holding
up
and,
more
importantly,
the
sales
prices
rep
as
a
ratio
of
the
assessment
or
the
assessments
is
the
ratio
of
their
sales
prices.
I
hope
that
matters
are
very
close
higher
than
usual.
This
isn't
a
high
90
percentile,
which
I
think
is
the
appraisers
dream,
and
so
these
comparables
seem
to
be
really
including
the
appellant.
D
The
last
thing
is
that
nobody
brought
up
the
appellant
access
to
Metro,
which
isn't
so
terrific
today,
but
hopefully
it
will
be
soon
is
incredibly
superior
to
the
comparables
there's
a
big
difference
that
is,
a
hike
from
a
block
in
from
52
Virginia
square
Metro
versus
a
seventh
and
I.
Don't
know
what
that
is:
Lincoln,
nur
or
Norway.
D
H
A
lot
of
numbers,
which
you
know
I
appreciate
that
the
appellant
and
big
guy,
however,
you
know
we
don't
necessarily
do
assessments
by
doing
averages
or
you
know,
by
total
numbers
or
square
footage
or
any
type
of
average.
So
looking
at
the
sales,
including
the
sale
of
the
subject,
property,
I
I
think
everything
is
in
line.
I,
don't
see
where
anything
can
be
made.
You
know
if
you
look
at
average,
is
like
the
apparent
yeah
you're
gonna
find
ways
to
make
them.
O
Agree
with
my
Jose
said,
I
think,
even
though
to
say
all
of
the
subject
properties
is.
You
know
back
to
this.
A
A
F
F
A
O
D
A
B
O
I
The
the
appeal
of
the
department's
decision,
I'm
making,
is
because
I
believe
it
is
not
uniform
in
its
application.
The
data
I
submitted,
the
assessment
of
my
property
was
fought.
Five
hundred
and
seventy
three
thousand
eight
hundred
and
seventy
the
unit
right
next
to
me
is
also
a
two-bedroom,
then
in
identical
format.
Formation,
as
my
is
my
unit
with
two
exceptions,
one
is
a
bay
window
which
gives
my
unit
twenty
nine
more
square
feet
than
my
neighbor
and
secondly,
I
have
an
additional
parking
space.
I
Compliments
I
think
the.
If,
if
you
do
the
analysis
and
you
net
out
the
ten
thousand
dollars
for
the
parking
space,
there's
a
differential
assessment
on
a
square
foot
basis
of
twenty
five
dollars
on
my
unit
versus
the
other
unit
and
just
to
be
clear,
both
units
have
original
owners.
They
were
purchased
within
thirty
days
of
each
other
when
the
building
opened
in
2013
and.
F
I
In
essence,
that
you
know
the
department
had
provided
comparables
I,
don't
argue
with
the
comparables,
but
I
do
argue,
with
the
methodology
and
its
application,
because
if
those
comparables
are
used
to
assess
my
unit,
what
comparables
are
being
used
to
assess
almost
an
identical
unit?
Next
to
me,
and
should
there
be
a
difference?
Yes
should
I
be
paying
more
yes,
but
that's
what
I
believe
that's
outside
of
his
zone
of
reasonableness
at
a
netting
up
the
additional
parking
space?
I
P
Morning,
everyone
I'm,
taffy
and
I'll
be
representing
the
department.
Today.
The
subjects
property
is
located
at
the
dominion
Heights
condo.
It
is
a
two-bedroom
two-bathroom,
1249
square
feet
unit.
Another
appraiser
and
I
were
able
to
go
visit
this
property
back
in
February.
As
part
of
our
review
process.
We
saw
that
the
interior
has
not
been
renovated
at
all.
It's
actually
not
uncommon
to
see
non
renovated
units
here,
because
it's
a
2013
building,
so
the
2013
makes
it
the
newest
building
in
the
Lehi
Wei
East
area.
P
So
as
he's,
they
don't
know
in
his
application,
and
how
does
he
just
mentioned?
The
appellant
believes
he's
not
assessed
equitably
with
similar
units
he's
referring
to
units
specifically
302
now
302,
as
he
stated
two
beds,
two
baths
1220
square
feet
and
although
this
unit
appears
to
be
similar,
it's
it's
not.
It's
actually
considered
a
separate
model
and
unit
302
when
it's
sold
in
2013,
it's
sold
for
five
hundred
and
twenty
six
thousand
dollars
and
then
the
subjects
unit
in
2013
sold
for
five
hundred
and
seventy
three
thousand
eight
hundred
and
seventy
dollars.
P
Given
the
big
difference
in
those
prices,
we
can
deduct
that
it
was
more
desirable
because
it
came
in
at
a
higher
value.
Another
important
thing
to
know
is
that
in
this
condo
there
is
only
66
units
and
of
those
66
units.
We
have
39
different
residential
mottos,
so
there's
only
one
unit
that
is
the
exact
same
as
his
unit,
which
is
the
unit
below
it.
Unit
203
two
beds,
two
baths,
one
thousand
two
hundred
and
forty
nine
square
feet.
It's
actually
on
the
comp
sheet.
Its
comp
number
three
currently
assessed
at
572
nine
hundred.
P
There
is
a
twenty
thousand
dollar
difference
there,
which
is
accounted
for
ten
thousand
dollars
as
a
floor
adjustment,
which
the
subject
has
and
an
additional
parking
space,
which
is
also
ten
thousand
dollars.
This
unit
unit
203
last
sold
in
March
of
2018
for
five
hundred
and
seventy
five
thousand
dollars
and,
like
I,
said
it's
assessed
right
now
close
to
five.
Seventy
two
so
we're
almost
reaching
ninety-eight
percent
of
market
value.
It's
also
important
to
know
for
the
board
that
our
assessments
are
the
most
accurate
when
the
building
is
first
fill.
P
So
when
the
building
is
built,
it
sells
the
majority
of
its
units
and
that's
when
we
can
really
make
sure
that
you
know
our
assessments
are
as
close
to
those
market
values.
So
for
the
2014
analysis,
we
were
able
to
observe
all
of
those
sales
and
we
had
a
fixed
assessment
for
2014,
2015,
2016,
2017
and
2018.
There
was
no
changes,
no
increases
no
decreases
in
that
assessment.
P
It
stayed
at
five
hundred
and
sixty
thousand
nine
hundred
last
year
in
2019
there
was
a
three
percent
increase
because
that
comp
number
three
sold
and
I
as
I
stated
earlier,
203
sold
for
575.
So,
given
the
limited
sales
we've
seen
over
the
years
this
year,
we
saw
an
assessment
to
sales
ratio
of
94%.
Therefore,
the
entire
building
received
a
4%
increase.
P
So
I
would
like
to
the
board
to
know
that
where
we
normally
see
tears
in
this
building,
this
building
is
actually
set
up
in
a
really
different
way,
where
there's
only
one
exact
replica
of
the
model.
You
know
unit
203,
which
I
stated
before
sold
in
2018.
Therefore,
the
appellant
estimate
of
value
is
actually
given
really
low,
and
it
is
the
department's
recommendation
to
confirm
the
assessment
at
five
hundred.
Ninety
two
thousand
nine
hundred.
Thank
you.
Okay,.
A
I
A
H
P
A
I
P
So
I
ask
that
the
board,
please
keep
in
mind
the
sale
of
unit
203.
This
unit
is
exactly
like
the
subject
unit
302,
even
though
it's
the
subjects
neighbor.
It
is
not
the
same
unit
unit
to
agree
which
is
below
the
subject
and
have
one
last
working
sold
for
five
hundred
and
seventy
five
thousand.
We
are
not
going
to
get
a
sale
that
is
as
indicative
as
the
sale.
The
sale
is
indicating
that
the
increase
is
warranted.
Therefore,
I
ask
the
board
to
please
confirm
the
assessment
as
fair
and
equitable
at
590
to
900.
I
Very
quickly,
two
points:
one
unit
do
this:
over
five
six,
thirty
days
post
my
sale,
that's
important
because
the
building
had
opened
and
the
developer
was
looking
to
get
out.
So
you
know
I
credit
them.
They
got
a
great
price
and
I
would
say
they
got
it
below
market
value.
Second,
the
department
makes
a
distinction
without
a
difference
which,
and
what
I'm
saying
is
marking
the
tip
marketing
materials
should
not
be
the
distinction
on
difference
physically
layout
wise,
exactly
the
same,
whether
they
advertise
it
as
something
else.
I
H
H
But
now
that,
let's
you
know,
let's
say
that
we
have
a
resale
market
if
nothing
was
resold
in
the
building
which
you
know
and
we
had
double
sales,
but
looking
from
the
point
of
view
as
a
real
estate
broker,
are
we
gonna
take
into
consideration
what
the
price
you
can
watch
when
it's
all
ten
fifteen
years
ago?
I,
don't
think
so.
We're
gonna
be
looking
at
what
the
market
is
now
what
prices
for?
We
did
on
units
that
are
similar.
H
You
know,
regardless
of
what
they
are
assessed
at
RT
bedroom
in
the
bathrooms
of
that
size
selling
for
that
price.
They
are
now
a
sitter
says
you
know
equally
with
the
other
units
in
the
building.
I,
don't
think
it
is,
and
you
know
my
question
was
in
reference
to
the
view
he
was
on
the
same
side,
because
we
see
that
all
the
time
sometimes
you
know
there
are
across
the
hall.
They
have
a
different
view
block
by
another
building
and
I
know.
H
Well,
the
other
side
of
the
hallway
I
think
the
viewers
like
you
did
work
yard
or
something
and
on
his
side
he
was
you
know.
Clearly
it
didn't
fall
and
I
think
some
type
of
adjustment
may
be
warranted
because
of
you
know
the
other
unit
next
door
is
assessed
differently
that
you
know
to
me.
The
only
difference
is
the
parking
space.
Twenty
thirty
seven
fifty
square
feet
are
not
going
to
make
that
much
of
a
difference.
H
H
A
H
H
H
D
On
the
other
hand,
comparing
the
next-door
neighbour
302
that
it
sold
for
a
bunch
less
in
2013,
the
appellant
makes
the
case.
Well,
maybe
you
know
they
got
a
good
deal.
Maybe
the
developer
wanted
to
get
out
of
the
last
one
solder
last
couple,
so
that's
one
data
point
that
makes
me
uncomfortable
so
I
I'm
for
also
marginally
lowering
it,
but
not
anywhere
close
to
the
575
figure.
I
mean
if
we
lower
it
it's
it's
marginal
I
would
have
agreed
one
more
sorry.
H
O
A
A
H
A
D
H
D
H
Well,
I'm:
okay,
I'm
back,
you
know
when
we
do,
it
is
sometimes
I
know.
One
sale
is
not
enough,
but
we
have
made
changes
based
on
one
sale
and
to
me
at
least,
there
is
a
valid
sale
at
575,
so
they
have
one
or
two
parking
spaces.
Maybe
the
building
should
be
reviewed
for
square
footage
assessments
not
necessary
just
for
what
it's
sold
originally.
But
you
know
my
suggestion
would
be
to
vote
with
a
five
star
in
the
drive.
O
D
Or
maybe
a
couple
thousand
more
for
the
height
difference
again
fine
line,
but
I
would
support
something
like
yeah
80
to
90
or
585
life
support,
but
not
certainly
not
lower
than
that,
because
then
it
would
get
out
of
whack
with
offers
for
anybody
like
that
fine
line
in
the
middle
of
five
80s.
If
not,
then
it's
gonna
stay
where
it
is
I,
don't
think
Jose's
pub
75
has
support
and
therefore
automatically
remains,
as
the
department
has
assessed
it.
So.
D
H
O
H
A
A
A
Q
Good
morning,
everybody
so,
as
usual,
we're
gonna
go
over
the
BOE
not-guilty
commercial
guide
line
that
we
have
prepared
for
this
year.
As
you
see
this
year,
we've
all
compiled
everything
into
a
book
which
we
call
our
commercial
guide
line
book
and
that
has
been
made
available
to
the
agents
and
owners
who
file
reviews
this
year
and
even
those
who
just
may
request.
The
plan
is
to
start
having
this
guideline
book
available
online
in
the
future.
Q
We
didn't
make
a
lot
of
changes
this
year,
but
I
think
think,
and
we
should
note
would
be
starting
with
the
cap
rate.
We
looked
at
the
bid
areas
in
the
county
and
for
any
property
that
pays
into
the
commercial
bid
for
Boston
Rosalind
and
which
is
now
national
anthem.
We
added
that
bid
rate
to
their
cap
rate
because
again
it
is
part
of
the
tax
rate
in
our
cap
raiser
tax
loaded.
Q
We
saw
the
stabilized
cap
rates
for
hotels,
so
those
didn't
change
I
think
we
made
some
reductions
on
the
apartment
side
as
well,
but
the
biggest
change
that
you
will
see
is
that
the
bid
rate
has
been
added
to
the
commercial
cap
rates
for
properties
that
fall
into
fall
into
B.
So,
even
if
there
is
a
mixed-use
building
say
in
Boston
and
they
have
commercial
space,
that
commercial
portion
also
received
that
bid
rate
been
added
to
the
cap
rate
because
they
paid
a
bit
rate
tax
for
the
commercial
portion,
not
all
B.
Q
Q
Q
We
have
small
notes
in
there
for
you,
because
we
have
been
researching
those
properties
a
lot
more
in
the
past
few
years,
so
we've
included
a
section
I
think
it's
a
page
for
the
mall
notes,
and
then
we
follow
that
we
finish
that
up
with
the
office
information
as
far
as
a
hotel,
now
Hotel
affordability
cases
this
year
we
have
mark,
as
far
as
the
building
cases
this
year,
I
think
we
were
in
line
with
past
years.
It
might
be
slightly
down
you
compare
it
to
some.
Q
Okay,
so
when
you
we
look
at
the
cases
that
we
received
this
year,
I
think
we
have
231
cases.
That's
the
combination
of
people
who
filed
to
the
review
level
and
inside
the
BOE
Indian
peoples
I've
straightened.
Now
this
year
we
had
an
uptick
in
the
number
of
cases
and
went
straight
to
the
board
I
think
most
of
those
are
from
apartment
properties.
There
was
some
appellant
last
year
that
stated
that
they
were
no
longer
side
to
department.
They
would
go
straight
to
the
board,
but
and
they
did
exactly
that.
Q
Q
In
the
past,
where
we
might
have
had
an
earlier
as
a
category
of
apartment
for
garden,
alleys,
1969
and
earlier
the
same
can
be
said
with
mid
rise,
we
had
19
and
16
and
earlier
there's
1970
and
earlier,
and
we
did
the
same
thing
with
high-rise.
Our
her
Garden
Market
approach
increased
based
off
the
sales
that
we
saw
last
year,
the
per
unit
rate
for
one-bedroom,
two-bedroom
and
three-bedroom
units
for
garden
apartments.
Q
There's
a
hundred
eighty
thousand
per
unit,
the
efficiencies
increased
to
140
148
thousand
per
unit,
that's
an
increase
from
183
from
165
per
unit
to
180
per
unit,
and
again
that
is
based
off
the
cells
that
we
saw
in
the
county
of
these
garden
properties.
A
lot
of
owners
of
these
properties
did
not
report
income
and
we
were
able
to
value
based
off
of
the
sales
comparison
approach.
F
Q
Q
Again,
the
biggest
change
for
the
general
commercial
side
is
that
the
cap
rate
was
increased,
I
think
a
quarter
basic
point
to
seven
percent
based
off
the
sales,
the
commercial
condos.
We
still
value
those
properties
based
off
of
the
income
approach.
We
did
increase
the
cap
rate
on
those
properties
to
six
point
two:
five
percent,
that
cap
rate
is
for
all
commercial
condos,
whether
their
medical
or
just
general
commercial
use.
The
cap
rate
is
six
point,
two
five
percent
and
we
continue
to
collect
income,
expense
information
for
these
properties
as
well.
Q
Hotels
or
we
look
at
information
that
we
had
and
we
made
some
adjustments
to
our
guidelines
based
on
expenses.
Again,
our
cap
rates
for
these
properties
hike
didn't
change.
They
remain
flat,
with
the
exception
of
those
that
fall
in
a
bid,
they
fall
in
a
bid.
We
did
add
that
bid
rate
to
their
cap
rate.
So,
for
example,
a
full-service
has
an
8%
cap
rate.
If
it's
in
the
Boston
bid
the
cap
rate
at
8.0
5%.
Q
Q
For
office,
some
of
the
big
changes
were
in
the
vacancy
that
we
saw
being
reported.
We
should
do
have
our
tiered
vacancy,
but
this
year
the
legacy
is
in
increments
of
five
percent.
The
excess
vacancy
threshold
is
consistent
for
all
sub
markets,
so
if
the
Vegas
it
exceeds
25
percent,
then
we
take
consideration
any
below-the-line
deductions
that
is
consistent
for
all
sub
markets.
Last
year
we
had
a
tiered
excess
vacancy
threshold
for
Rosslyn
this
year.
Q
Q
Q
D
Here
it
is
I'm
not
finding
it,
so
you
can
straighten
out
I'm
looking
at
the
Hotel
Motel
guidelines
and
you
give
the
cap
rates
for
various
kinds
of
hotels
and
then
increase
them
based
on
if
they're
in
one
of
the
three
bids.
Do
you
do
that?
This
is
not
my
main
question.
Do
you
do
that
for
apartment,
sir
I
thought
for
sure
commercial
properties,
office,
buildings
and
so
forth,
where
you
change
it
based
on
the
bid
rate,
because
I
thought
it
you
mentioned
it,
but
I'm
not
seeing
it.
Q
Multi-Family
property,
don't
fall
in
the
beer,
I
think
there's
a
few
that
do
fall
in
maybe
to
Crystal
City
bid
or
a
limb
bid
by
no
like
Boston
the
most
family.
They
don't
fall
into
the
beat
if
they're
mixed-use,
then
they
pay
big
taxes
on
the
commercial
portion.
So
when
we
do
that
valuation,
the
commercial
portion
does
receive
that
bead
does
have
that
bid
rate,
including
India
cap
rate.
D
Okay,
that
was
my
main
question.
The
the
cap
rates
go
up
if
the
property
is
in
the
bid,
which
means
it's
a
a
if
you
pardon
expression,
is
shaky
or
property
the
higher
the
cap
rate,
the
less
desirable
it
is,
but
that
the
reason
you
do
it
is
because
they
pay
higher
taxes
that
go
to
the
bid
and
that's
why
all
other
things
being
equal,
the
cap
rates
a
little
higher
a
little
less
desirable.
The
taxes
are
higher.
Is
that
right.
Q
A
I'm
guessing
I
mean
some
people
may
have
questions,
but
you
know
now,
after
you've
kind
of
just
briefly
gone
over
this,
you
know
they
can
go
ahead
and
email.
You
directly,
I
think
it's
a
lot
to
you,
know
kind
of
absorb
all
at
once
and
I
know.
I
know,
Gregg
will
probably
have
some
and
I
think
a
lot
of
times.
People
like
to
take
this
year
versus
last
year
and
compare
them,
and
you
know
and
see
so.
Q
A
A
Q
Q
We
are
expanding,
we're
trying
to
expand
what
publications
we
see
but
as
I
stated,
PwC
is
one
of
the
few
that
has
cap
rate
information
and
if
you
look
at
the
page,
seventeen
you'll
see
where
we
put
in
their
classification
methodology
that
they
included
in
their
publication
and
based
off
of
this
classification
methodology.
That's
how
we
determine
what
the
cap
rates
would
be
for
Boston,
Quarter
and
Fashion
Center
and
then
even
of
looking
at
Pentagon
rope
gun
city
in
market
commas.
D
Q
So
page
10,
yes,
PCC
211
is
retail
strip,
slash
commercial!
If
you
look
on
page
nine,
each
category
will
have
the
name
and
the
PCC
number
associated
with
it.
So
restaurants
are
two
one.
Two
neighborhood
centers
are
two
hundred
four
and
then
we
have
mixed
office,
commercial
u-19,
and
this
year
we
know
last
week
brought
up
sales,
but
this
year
we
are
also
including
the
sales
that
we
saw
throughout
the
year
to
give
everyone
an
idea
of
the
sales
that
we
look
at
when
they
come
in.
Q
We
try
to
provide
a
brief
description
as
well
with
some
of
the
cells.
If
we
have
information
on
it
readily
available
about
what
went
into
that
sale.
If
there's
a
market
sales,
you
know
off
market
sale
if
it
was
a
distress,
sale
things
of
that
nature,
if
it
was
a
set
of
interests
in
the
property
rather
than
an
actual
purchase
of
the
property-
and
we
are
including
the
on
many
of
these
properties
or
many
be
so.
She
tried
to
talk
about
her
room
value
for
hotels
or
her.
Q
Like
you
look
at
page
8,
we
have
the
e
sales
day,
sales
price,
the
number
of
units
of
the
apartment,
and
so
the
sales
price
per
unit
break
down
the
year.
The
property
was
built
in
the
effective
age
in
our
records
for
that
property
for
type
will
click
H
for
high-rise
in
for
mid-rise
and
G
for
garden,
and
then
we
put
the
assessment
sales
ratio
in
there
as
well.
Q
N
Q
I
think
you
do
last
year,
you
before
last,
we
put
on
our
guidelines
with
our
story.
Heights
were
for
each
property
type
as
far
as
garden,
mineralizing
hyrax.
So
if
you
look
at
page
6,
the
expense
ratios
table
it
says
garden
is
one
two
three
stories
mid
rises,
four
to
eight
stories
and
high
rises,
nine
plus
doors,
an.
A
Q
Q
Q
Q
In
land
sales
we
did
have
a
few
land
sells
that
we
took
a
look
at
and
so
the
land
rates
for
commercial,
more
bang
on.
If
they
are
rate
by
five
dollars,
I
mean
they
were
the
last
day
were
$60
per
square
foot
for
authors
and
for
some
of
the
site
plans,
and
this
year
they
are
$65
a
square
foot
and
that's
the
Metro.
N
Q
We
went
through
and
cleaned
up
a
few
of
the
we
went
through
to
see
what
direct
mean
direction,
work
and
see.
We
can
make
some
we're
gonna
do
a
little
cleaning
up,
so
the
directions
that
we
provided
are
the
same.
If
there
were
some
words
they're
confusing,
we
try
to
remove
those
words
and
make
it
mom
more
clear
what
we
were
asking
for
thing
this
year.
Q
We
also
have
more,
we
separated
out
more
of
the
other
income
categories
or
more
the
other
pastors
categories.
To
try
to
be
more
specific
about
what
we
were
asking.
As
always,
when
we
asked
for
miscellaneous
revenue
or
miscellaneous
expenses,
we
asked
for
detail
and
oftentimes.
We
don't
get
that
so
where
we
were
able
to
actually
break
that
up
into
subcategories.
We
did
especially,
can
you
see
with
pass-throughs?
Q
We
asked
for
real
estate
tape,
real
estate
tax,
pass
throughs
operating
expense
pass
throughs,
and
we
were
more
specific
about
things
like
that,
but
you
continue
to
get
the
directions
with
the
Heinie's
I
think
it's
four
pages
of
directions,
we're
always
available.
If
you
have
any
questions-
and
we
continue
to
reach
out
to
owners
and
agents
about
any
eye
needs
that
we
receive
in
which
we
need
a
little
bit
more
detail
about
the
items
or
the
expenses
that
they
report.