Document Date
Meeting Description
Document Type
Meeting Date
Page Number
11
Phase 2: Valuation
Valuations are done using three recognized appraisal
methods: the Cost Approach, the Income Approach and the
Sales Comparison Approach. During this phase, individual
characteristics of the building are analyzed using
information gathered in both phases 1 and 2. Each property
is Compared to other comparable properties with similar
characteristics. Then the contributory market value of the
improvements is added to the previously determined land
values. This value is the final estimate for each parcel of
property, building and land.
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