How to Value a Property
All properties are assessed based on their square footage and the amenities they may have.
The first step valuing a home is to measure the outside of the house. Garages, decks, porches and pools are measured as well.
A quick “walk-thru” is then done to note the added features, i.e. number of bathrooms, fireplaces, type of heat and/or air conditioning etc.
The year the house was built or the effective age of the building is also factored into the analysis as well as construction quality.
This data is then entered into a C.A.M.A. (Computer Assisted Mass Appraisal) program. The value is then computed to generate an assessment that would have been on the structure if it were standing in 1999.
This is to keep all properties assessed at the same market level.
This value is added to the value of the land to give the property a total assessed value.
The total assessment is the amount that determines the taxes on the property.