PIN 16181190170000 Assessment Analysis (2023)
Analyst notes and comparable-property analysis for PIN 16181190170000, documenting valuation inputs, similarity scores, and selected comparable adjustments.
Analyst Notes: 16181190170000 Eric Langowski 04 October, 2023 Subject Property pin class total av year built recent sale bldg av per sqft build sqft 16181190170000 206 56575 1913 21.34 2241 Selected Comparables pin class total av year built recent sale bldg av per sqft build sqft distance similarity adj factor 16181190050000 206 52000 1915 20.47 2220 0.03 8.5 1.12 16181270150000 206 57000 1918 21.34 2297 0.11 8.5 1.14 16181210080000 206 63000 1908 23.18 2265 0.12 8.5 1.24 16181270170000 206 58000 1921 21.86 2270 0.12 7.5 1.07 16181270200000 206 60000 1916 22.11 2389 0.14 7.0 1.12 16181050110000 206 71000 1914 25.99 2348 0.22 7.0 1.06 16181150210000 206 60647 1913 $575000, 2023- 04-12 22.28 2369 0.24 7.0 1.08 16181180100000 206 58000 1916 19.74 2332 0.08 6.5 1.15 16181120040000 206 56000 1903 21.46 2202 0.12 6.5 1.11 16181230010000 206
64000 1908 22.78 2349 0.23 6.5 1.15 16181200070000 206 76000 1921 25.17 2672 0.04 6.0 1.08 16181260070000 206 56000 1912 19.20 2585 0.16 5.5 1.14 16181310060000 206 81000 1913 26.51 2659 0.18 5.5 1.14 16181310280000 206 58000 1914 18.98 2564 0.24 5.0 1.17 1 Decision Scoring Each decision consists of a no change score and a change percent. See Methodology. No Change Score See methodology for additional information. category score below_50_percentile 5 below_20_percentile 0 share_comps_greater 14 cod_score 5 prd_score 5 prb_score 5 no_change_score 29 2 Change Percent adjusted unadjusted 21 24 27 30 Building Assessed Value per Building Square Foot Subject Building AV per Building SQFT, dashed line Adjusted and Unadjusted Building AV per Building SQFT Calculations The median building assessed value per building square foot is calculated for
all comparables, adjusted and unadjusted. The lower of adjusted and unadjusted values is selected. See methodology for additional information. name value subject_bldg_av_sf 21.34 unadj_bldg_av_sf 21.98 adj_bldg_av_sf 24.21 change_percent_unadj 0.00 change_percent_adj 0.00 change_percent 0.00 3 Final Decision Per policy, no change scores above 35 or change/cut percentages below 2% are deemed no change. Note that change percentages apply only to the building assessed value portion of total assessed value. name value pin 16181190170000 assessor_total 56575 decision No Change change_percent 0 bor_total 56575 4 Submitted Evidence (if applicable) The following comparables were reviewed, if any. Note: some comparables may be excluded due to missing property characteristic data or if pin numbers were formatted incorrectly or incompletely. pin
class total av year built recent sale bldg av per sqft build sqft distance similarity adj factor 16181180100000 206 58000 1916 19.74 2332 0.08 6.5 1.15 16181250220000 206 52000 1919 18.85 2294 0.36 5.0 1.18 16182100020000 206 51000 1913 18.55 2432 0.52 4.5 1.20 pin analysis bldg av sf 16181180100000 11 out of 14 BOR comparables had a higher building AV per building SQFT. 19.74 16181250220000 This comparable does not meet the standard criteria used by the BOR or is not within the top 25 comparables. 18.85 16182100020000 This comparable does not meet the standard criteria used by the BOR or is not within the top 25 comparables. 18.55 5 Methodology Finding Comparables Standard Method: • Same Assessor Neighborhood (e.g. 12046) • Same Exterior Wall (e.g. “Frame + Masonry”) • Same Class (e.g. 234) • Same Residence Type (e.g. “Split Level”) •
Year Built +/- 20 years • Building Square Footage +/- 20% • Land Square Footage between 1% and 199% If less than 5 comparables are found with these standard filters, the search is expanded to: • Same Township (instead of Assessor Neighborhood) within 3 miles • Any Exterior Wall Note: Comparables are excluded if Building Assessed Value Per Building Square Footage is less than 25% of target or more than 200% of target. Similarity Scores • (2 points) age plus minus 5 • (2 points) building sqft +/- 10% • (2 points) land sqft +/- 30% • (2 points) same block approximated by within 1/8-mile distance • (0.5) full + half bath +/- 0.5 • (0.5) rooms +/- 1 • (0.5) air conditioning same type • (0.5) garage same (rounded to nearest number of cars) • (-2 points) different exterior wall (expanded search) • (-2 points) farther than 3 miles (expanded
search) Adjustment V alues Adjustment is based on a simple AVM to calculate an adjustment factor based on the expected impact of changes in property characteristics on BABS between the comparable property and the target property. Decisions Decisions consist of no-change score and change percent based on adjusted and unadjusted comparables. No-change score (out of 50) • 5 pts, below 50th percentile comp bldg av per sqft • 5 pts, below 20th percentile comp (property is valued much lower than comps) • 25 pts, share of comps greater than target (percentage times 25, rounded) • 15 pts, per IAAO standard met on NBHD (if not enough sales 0 pts) 6 Change Percent Change percent is based on combination of similarity and adjustment values to select ‘best’ comparables. Best are identified first on similarity score with tiebreaks by distance, between
5 and 25 comparables are selected based on similarity scores and the homogeneity/number of comparables. The adjusted and unadjusted Building Assessed Value Per Building Square Footage (BABS) is then calcu- lated. The median adjusted BABS and median unadjusted BABS for selected comps is then calculated and the lowest median BABS from adjusted and unadjusted values is then selected. 7
