3.5
3.6
(b)
(c)
(d)
(e)
(f)
commercial, industrial and any other special use property;
Describe property specific characteristics;
Document statistical testing for the income valuation models to
known sales of similar properties;
Create valuation models consisting of market data based upon:
(i) Defined descriptions and specifications based upon
property type; and,
(ii) Quality and size of the improvements; and,
Document the calibration of all income approach valuation
tables and models.
The Company shall be responsible for costs associated with
mailing Income and Expense forms to applicable properties.
3.4.4 Market-Sales Comparison Approach:
(1) The market-sales comparison approach, when utilized, shall be
implemented by calibrating and applying valuation models as follows:
3.4.5
(a)
(b)
(c)
(d)
(e)
(f)
Company shall qualify, analyze, and use sales as direct units of
comparison in the valuation of residential, commercial,
industrial and any other special use properties;
Investigate with documented analysis comparable sales;
Document the adjustments for specifics, which may include, but
not be limited to: location; time; size; features; and, condition;
Document how the adjustments were derived;
Document final value reconciliation; and,
Document calibration of all sales comparison tables and models.
In the utilization of the appraisal approaches to valuation, Company shall
make and document adjustments made to properties for depreciation
factors, which may include, but not be limited to: physical; functional; and,
economic conditions.
Utility and Special Use Properties
3.5.1 The Company shall not be responsible for the valuation of poles and
conduits. The company recommends the City contract these services
through a separate vendor.
3.5.2
The Company shall not be responsible for the valuation of any Utility
property. The company recommends the City contract these services
through a separate vendor or use values established by DRA.
Value Notification and Informal Reviews
3.6.1 Company shall provide to the municipal assessing officials:
(1) Alist of the newly established values for review;
(2) A preliminary value analysis with a copy delivered to the DRA for
review; and,
(3) Final values posted on the Company’s website, at City Hall and one
14 City of Nashua, NH
Full Statistical Revaluation Contract
