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Tax Agent/Attorney Meeting

Tax Agent/Attorney Meeting. Welcome. Substantial Information. Market sales approach – At least one comparable property in the same geographical area. Cost approach – include all costs to build or rebuild the improvements plus the land value. Substantial Information. Income approach

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Tax Agent/Attorney Meeting

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Presentation Transcript

  1. Tax Agent/Attorney Meeting Welcome

  2. Substantial Information • Market sales approach – At least one comparable property in the same geographical area. • Cost approach – include all costs to build or rebuild the improvements plus the land value.

  3. Substantial Information • Income approach • Complete and notarize the Income & Expense Statement (DOR) 82300 • Include a comparison to the market income • Please provide the physical address where the source documents are located (Affidavit section of the income/expense report) • Other – identify the specific areas of concern such as the legal class, rollover etc.

  4. Agent Authorization • The form must be the Department’s current form.(dated in 2004) • Signed by the person who owns, controls or occupies the property • The signature date must be from January 1, 2012 and prior to the filing deadline (April 17, 2012) • We are not verifying the legal status of the person who signs the form.

  5. Economic Units • May comprise of properties that are not contiguous or owned by the same owner. • They must be managed and operated on a unitary basis. • They must make a functional contribution to the operation.

  6. Appeal Time lines • Notices mailed on February 17,2012 • Appeal filing deadline is April 17, 2012 • The Assessor’s deadline to answer the appeals is August 15, 2012 • The office’s goal is to have all appeals answered by August 1, 2012

  7. Electronic Filing Process • No Change in the process from last year. • A drag and drop functionality exists for loading the forms. • Able to name and rename files while in the upload queue • A single data file can contain multiple appeals

  8. Electronic Filing Process • Able to go back and review the history of previous submissions. • An e-mail confirmation will be sent a couple of minutes after your submission has been received. • Important – Correctly naming the documents helps assure we can timely answer your appeal.

  9. Amended Notices • Total mailed 41,530 • This number was caused due to an anomaly in the calculations due to the converting from the Department of Revenue’s system to Marshall & Swift’s system. • The majority are higher than the original calculations.

  10. Statistics on Amended Notices Total Full Cash Value Noticed $70,602,560,585 Supplemental $72,168,235,890 Difference $ 1,565,675,305 These numbers include the exempt properties.

  11. Commercial Legal Class • The Notices were printed with a 20% ratio instead of the 19.5% ratio • A letter will be sent out to the property owners as to the correction. (Thursday the 23rd) • The Appeal deadline is not affected since the Statutory information is correct.

  12. Assessor’s Meetings • We will be limiting the meetings to 15 minutes • We will have a Preliminary Position • The staff will share the information • If new information is supplied by the petitioner at the meeting, the appraisal staff will review it prior to their opinion of value is finalized

  13. Appeals Meetings • The Assessor’s staff will provide you with a copy of the Preliminary Position once both sides have signed the Declaration Form. • Notification of reductions for one million dollars or more will be sent to the Mr. Russell, Mr. Boncoskey and Mr. Boisvert. • Testing an electronic meeting notification process. (Land Division)

  14. Primary Meeting Locations 301 W. Jefferson Street: Commercial Land Agricultural Mobile Home 501 W. Jackson Street: Residential Land

  15. Rejections Process • Appeals that are not in compliance will be rejected. (Incomplete forms or missing agent authorization form) • The rejection letter will be sent certified. • The Statutory 15-day re-submittal is required.

  16. September Notice of Change • File directly to the State Board • I would request that you would e-mail your supporting documentation to us. • It would allow the appraisal staff to complete a more thorough review before finalizing their opinion of value. • Information will be coming on who should receive the documentation for review.

  17. 2012 SBOE Appeals Statistics Parcel Counts SBOE Level Total Count 19,892 No Change # 11,767 Reduction # 8,125 Assessor’s recommendations at the SBOE Level were 11.8% out of the 40.8% in total reductions.

  18. QUESTIONS

  19. CAMA Presentation

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