Professional Real Property Appraisal Services

The Vendor is required to provide real property appraisal services, related to the requirement of establishing true cash value (TCV) for pending ad valorem appeals.
- It also includes post appraisal services meetings, other conferences, depositions, hearings, trial preparation, attendance and testimony at trial, or any other dissemination or defense of the assignment and its conclusions.
- An ad valorem appeal for Tax Year 2024 and Tax Year 2025 has a deadline of September 19, 2025 for all valuation disclosures so appraisals will need to be sent to the assessor by September 11, 2025.
- This assignment will include the following:
• Identify subject property by its legal description and real property tax identification number.
• Observe the exterior and interior of the subject.
• Consider property specific data related to the physical and location characteristics of the subject site, including but not limited to, shape, topography, and availability of utilities, road frontage, and access and surrounding developments.
• Consider data related to the physical characteristics of the site and building improvements, including available site and building plans.
• Perform research pertaining to market supply and demand factors, market conditions and operating trends impacting the subject’s property type.
• Consideration of the subject’s competitive position in the sub-market.
• Review and analyze any lease and amendments, as well as operating history for the subject property.
• Analyze property-specific data related to the subject property’s functional utility and marketability.
• Identify relevant demographic, social, economic, political and governmental factors affecting the subject’s sub-market.
• Complete market research into supply and demand factors prevalent in the subject’s macro and micro markets.
• Complete market research into recent sales and leasing for similar big-box stores located within the competitive sub-market, and if necessary expand the geographic boundaries across the state.
• Obtain information from brokers, appraisers and other industry professionals, and review various market and industry reports and resource materials, regarding recent retail market conditions and operating trends.
• Inspect of all local market data relied upon in the appraisal.
• Analyze market data and conclude to a reasonably probable highest and best use for the property.
• Consider the application of the three traditional approaches to value (i.e., income, sales comparison and cost approaches) in light of: (i) the subject property’s physical and economic characteristics; (ii) market conditions; and, (iii) valuation criteria typically employed by the likely segment for this type and class of property. 
• Prepare a retrospective fee simple true cash value estimate, applying a cost approach, income approach and sales comparison approach.
• Reconcile the valuation analyses into a final true cash value conclusion for the subject’s real property.
• Participate in post appraisal services meetings, other conferences, depositions, hearings, trial preparation, attendance and testimony at trial, or any other dissemination or defense of the assignment and its conclusions.
- Contract Period/Term: 1 year