DOCUMENT

RFP - Residential Revaluation Services 2006

  • YEAR CREATED: 2006
  • ENTITY TYPE: City/Township
  • TYPE OF DOCUMENT: RFP - Request for Proposals
The document provides a detailed overview of the responsibilities and tasks of a contractor hired by a company for property valuation in relation to tax assessment. The contractor's primary duties include sending notices to property owners, conducting public hearings to discuss property valuations, and making necessary adjustments based on information provided by property owners. Additionally, the contractor is responsible for sending out further notices to property owners who request a review of their valuations. In the event of litigation, the contractor is required to provide witnesses and supporting data to defend the valuations. Furthermore, the contractor must furnish information to the assessor upon request for a period of one year after the completion of the project. This information includes building cost and valuation schedules for residential and farm properties, which encompass depreciation schedules. Copies of these schedules must be provided to the assessor. The document also emphasizes the importance of utilizing market data sale transactions as the foundation for property valuation. However, it specifies that market data transactions should typically cover a period of no more than three years, unless the Assessor deems it necessary to consider a longer timeframe. This ensures that property valuations are based on recent and relevant market trends for residential and commercial properties.
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