Board Of Aldermen - Minutes - 3/1/2018 - P28

Statistical Revaluation
Process

Begin project in late March with a start-up meeting with the City and DRA
Measure and List all residential qualified sales from 4/1/2017 to 3/31/2018
Measure and list all Comm/Ind qualified sales from 4/1/2016 to 3/31/2018
Analyze all sales through various ratio studies

Update all tables as indicated from the sales analysis

Analyze returned income and expense statements to create income tables
Review all properties in the field

Submit final values to the City for review

Publically post values to notify property owners of the new assessments
Conduct informal hearings

Deliver a compliant USPAP Manual to the City and DRA

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