Agmt04 Warren, Charles B. (2) - Laserfiche WebLink

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Valuation & Consultation 2033 SCHEDULE A: REDWOOD SHORES, Scope of work, 2005 Powell The scope of work proposed is to provide a re-assessment to market value ofthe property generally known as Street Redwood Shores, and consisting of rough Iy 4,350 parcels of real property. San Theworkwill intendto complywith the Un ¡form Standard of Professional Appraisal Practice, and any additional Francisco standards of the California State Board of Equalization. California The date of value wi II be 1 January, 2005. 94133 In general this assignment can be broken down into phases. Phone Phase I: New construction - This phase, to commence on or about 1 January, 2005, intends to identify and quantify any changes to the properties assessed since lien date2004. This includes identifying any 415. new structures. It also includes identifying and quantifying any alterations to existing structures which are 433. 0959 material to their market value. Phase II: Residential val uati on - This isthe most time consuming analysis task in the assignment. Fax The scope includes identifying property sold within the last year and applying statistical techniques, such as 415. mu Itiple regression analysis, to extract the important factors contributing to their val ue. The resulti ng models will be applied to the various neighborhoods and developments in the district. In the process, a sample of the 982.1441 sold properties must necessarily be inspected to confirm the validity of the models and the trends which they incorporate. Phase III: Valuation ofcoml11ercial, multiple family residential, hotel, land, and property of other uses. Portions of this phase, principally data colection run concurrently with Phases I and II. The objective of this phase is to arrive at values for the properties with i n the district wh ich are not individual residenti al parcels. In some cases statistical valuation methods are useful, but in general the val uation of these property types is more labor intensive. Phase IV: Assembly of the assessment roll. Next to the residential reval uation, th is is probably the most time consum ing portion of the assignment, translating the analyticfindings into consistent individual values posted to the roll. The assessment roll is the final product of the assignment and will be delivered in both hard copy, with explanatory text, and in ASCII format for the use of data processing in creating bond payment bills. Delivery of this product is to be on or before 1 June, 2005. Phase V: Assessment appeals - This task is not included in the fixed portion of this bid. Necessarily, whenever property is reassessed, there will be some taxpayers who are unhappy. Their recourse is to appeal. Defense of appeals requires the preparation of individual appraisals which are more time consuming per property than mass appraisal, and time is needed to negotiate with the property owners. Depending on appeal volume, time and costwìll vary. Ten days are al located to this function, but less have been needed in the last several years. Defense of assessment appeals is an advisable deterrent to frivolous or self-serving appeals. The appellant's calculus must include the probability of victory, and the cost of that victory. The appellant should also see the I ikelihood that any unrealistic valuation that might resu It in the process will simply be reversed the following year, requiring repitition of an uncertain and costly process. If appellants see that the system wi II deal with real problems, but defend and win cases which are without merit, such cases are less likely to be fi led. Charles B. Warren, ASA URBAN REAL PROPERTY Exhibit A-I