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October 17, 2011 (Regular Meeting) <br />98 -102 <br />15,001 - <br />.74 <br />103 -107 <br />35,000 <br />.76 <br />108 -112 <br />50,001 - <br />.78 <br />113 -117 <br />80,000 <br />.80 <br />118 <br />-122 <br />.82 <br />123 <br />-127 <br />.83 <br />128 <br />-132 <br />.85 <br />133 <br />-137 <br />.86 <br />138 <br />-142 <br />.88 <br />233 -237 <br />238 -242 <br />243 -247 <br />248 -252 <br />253 -257 <br />258 -262 <br />263 -267 <br />268 -272 <br />273 -277 <br />1.04 <br />1.04 <br />1.05 <br />1.05 <br />1.06 <br />1.06 <br />1.06 <br />1.07 <br />1.07 <br />Size Adjustment - Lots <br />Priced by Square Footage <br />Square Footage <br />0 - 15,000 <br />15,001 - <br />25,000 <br />25,001 - <br />35,000 <br />35,001 - <br />50,000 <br />50,001 - <br />65,000 <br />65,001 - <br />80,000 <br />80,001 - <br />95,000 <br />95,001 - <br />110,000 <br />110,001 - <br />125,000 <br />125,001 - <br />175,000 <br />175,001 - <br />Up <br />Priced by Front <br />Front Footage <br />0 - 75 <br />Footage <br />1 ac Typical <br />Size Adjustment <br />115% <br />471 -490 <br />491 -510 <br />511 -530 <br />531 -550 <br />551 -570 <br />571 -590 <br />591 -UP <br />Page 683 <br />1.16 <br />1.16 <br />1.16 <br />1.16 <br />1.17 <br />1.17 <br />1.17 <br />.5 ac Typical <br />Size Adjustment <br />105% <br />110% <br />105% <br />1000 <br />95% <br />90% <br />85% <br />80% <br />75% <br />70% <br />65% <br />Size Adjustment <br />115% <br />76 - <br />125 <br />110% <br />126 - <br />175 <br />105% <br />176 - <br />250 <br />100% <br />251 - <br />325 <br />95% <br />326 - <br />400 <br />90% <br />401 - <br />475 <br />85% <br />476 - <br />550 <br />80% <br />551 - <br />625 <br />75% <br />626 - <br />875 <br />70% <br />876 - <br />Up <br />65% <br />THE BASE <br />PRICE METHOD <br />FOR RUR ACREAGE <br />LAND MODEL 04 <br />The Base Price Method of appraising land is referred to as Land Model 04. <br />This land model is utilized to reflect market value when appraising acreage. <br />The market indicates that land values change when properties have different <br />amenities such as road frontage, public utilities, road types and the size of <br />tract. <br />Land Model 04 is also an excellent appraisal tool when utilizing the <br />neighborhood concept for different locations within the jurisdiction being <br />appraised. <br />The following is a description of how these factors affect each parcel of <br />land: <br />A. Location <br />Location is the key factor in the determination of market value in the <br />County. Depending on market demand and sales prices, Base Price Areas were <br />established throughout the County. Within each base price area other location <br />factors may be applied to a given parcel. The concept of neighborhood <br />homogeneity may tend to affect values as the parcel comes more under the <br />influence of the neighborhood and less under the influence of the total base <br />area. The market demands higher prices for property in or near active market <br />areas. Desirable subdivisions, availability of water and sewer, proximity to <br />shopping areas, higher base price areas and the existence of amenities are <br />factors which tend to increase market demand. The inverse may be true for <br />100% <br />95% <br />90% <br />85% <br />80% <br />750 <br />700 <br />65% <br />60% <br />550 <br />