• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Total Newb Question

Status
Not open for further replies.

medinaappraisal

Thread Starter
Freshman Member
Joined
Dec 15, 2007
Professional Status
Licensed Appraiser
State
Texas
What information is requested and where can I obtain this information or dollar amount needed for the special assessment section on the 1004?
(In Houston if that helps)

-Best Regards
:new_newbie:
 

USPAP Compliant

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
This secionn is for any "special assessments" attached to the property by a government entity (city or county mainly) OR (and more likely) any $$$ in addition to and beyond standard HOA fees.

Example, a special assessment might be charged to the propery for curb and gutter (city or county) or maybe $2,000 per parcel in gated community to repave the private streets.

I have had perhaps 3 appraisals in 20 years with any special assessment $$$$ and those were all condominiums with a SA for new roofs and siding nad once for a new clubhouse, pool and tennis courts.
 

Kevin A. Spellman

Senior Member
Joined
Aug 30, 2003
Professional Status
Certified Residential Appraiser
State
Massachusetts
Look at a tax bill and if the costs are separated. Here in MA we have CPA tax, Community Preservation Act. The act last for five years and then it can go back on the ballot to abolish. It is 1-3% of the taxes. Special assessments can come form new roads, new water lines. Ask the assessing office if a special assessment appears on a tax bill.
 

Mike Plumlee

Junior Member
Joined
Feb 21, 2007
Professional Status
Certified Residential Appraiser
State
Texas
medina,

Special assessment info in Houston will be in the lower portion of the MLS listing in HAR. It's just below the HOA monthly maintenance fees. Caveat: if the listing agent did their job properly.

You'll usually see it on condo listings, since they are more likely to have special assessments for common ground repairs and maintenance. The monthly HOA fees typically bankroll subdivision projects with plenty left over.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks