Unfinished living area versus sheds and garages value

[Earl Crabb]

I am heading into a judicial review after getting a denial on my grievance. My question is this.....how is the value of unfinished living space valued in comparison to a shed or garage? I ask because 2 years ago I won my judicial review and the hearing officer remarked that the "unfinished space would be valued at 35.49 per square foot (same as shed)"...so is this how they look at the square footage of all my detached garage space as well? What would be the exception to this. It's literally 1/2 the value of the finished living space, but when I tally the square footage numbers up, they come out different than the assessment including the land's assessed value...what am I missing?

 

[Fernando]

I am heading into a judicial review after getting a denial on my grievance. My question is this.....how is the value of unfinished living space valued in comparison to a shed or garage? I ask because 2 years ago I won my judicial review and the hearing officer remarked that the "unfinished space would be valued at 35.49 per square foot (same as shed)"...so is this how they look at the square footage of all my detached garage space as well? What would be the exception to this. It's literally 1/2 the value of the finished living space, but when I tally the square footage numbers up, they come out different than the assessment including the land's assessed value...what am I missing?

What is the purpose? Is it appeal to lower your assessed value?

 

[Earl Crabb]

What is the purpose? Is it appeal to lower your assessed value?

 

[Earl Crabb]

Yes, there are many variables wrong on my property report I feel. The land is one and how can acreage be worth less next to me with similar road frontage or at the end of the road??...but my initital question being about how do they value sheds, garages canopy and unfinished living space to the same amount as was referred to in my previous judicial review that stated the shed sqf was valued the same as the unfinished...I am assuming garage is no different, nor the canopy attached to my garage.

 

[Joe Flacco]

Assessments are not really market value appraisals.

 

[Joe Flacco]

Usually assessed values are much lower than market value. In my area anyway.

 

[Earl Crabb]

Assessments are not really market value appraisals.

So how do the assessments come up with their square footage dollar amounts then?

 

[Joe Flacco]

So how do the assessments come up with their square footage dollar amounts then?

No idea. It varies depending on the assessors office. It is not impossible some properties are assessed too high.

 

[Terrel L. Shields]

how do they value sheds, garages canopy and unfinished living space to the same amount as was referred to in my previous judicial review that stated the shed sqf was valued the same as the unfinished...I am assuming garage is no different, nor the canopy attached to my garage.

They apparently are using it as a proxy for unfinished area, but I'd argue the proper way to value it is to do the cost to cure subtracted from the value as if finished.

 

[Earl Crabb]

They apparently are using it as a proxy for unfinished area, but I'd argue the proper way to value it is to do the cost to cure subtracted from the value as if finished.

??? I need some approach as to how someone that's not a specialist in this field can understand it. That doesn't clue me in on how to calculate or how they calculated the cost.....when I look at my tax assessment....you can take the SFLA or square footage and divide it into their assessment and it gives a dollar value to the square footage...and when I did a FOIL for property reports on the comps that were used....they can be figured the same way and are somewhat similar ranging from 110$ to 139$ per square foot....so looking back at my SCARs hearing...they placed values referencing square footage, but the numbers are not the same because it's only referring to the home and not the home and land combined as it is in the SFLA calculation. I'm trying to figure out how the square footage value was determined and then how exactly why did they reference my shed to be the same dollar amount as the unfinished in the home...I am assuming garages, canopys and porches are treated the same...as they are listed on the "improvements" section of the property.