Taylor Pond Valuation Study Update
The City of Auburn, Assessing Division has been engaged in a review of waterfront Taylor Pond property values. This multi-year appraisal process includes an analysis of sales and property inspections.
As of April 1, 2020 we have made great progress but the analysis is not complete. As such there will be no market adjustments made for the upcoming tax year as a direct result of the study.
Although we will not be making any overall market adjustments for the upcoming tax year, edits to value were necessary for some properties following our inspections. These adjustments were for such things as new additions, demolitions, decks, garages, miscellaneous outbuildings, additional bathrooms, condition changes or other corrections that were discovered during the inspections or subsequent to permit work.
The Taylor Pond study includes 196 total parcels. Only 28% of properties saw a value increase. For the most part, any adjustments were minor – often they were less than 1% of the improvement value.
57 improved properties saw their overall values reduced.
84 properties saw no value change.
55 properties saw a value increase after corrections to improvements were made. These increases were overwhelmingly minor, the changes were as low as 0.02% to as high as 14.17%. Only three properties had an improvement value increase greater than 10%.
It is our intent to notify all Taylor Pond property owners whether or not their value changed in a letter prior to commitment.
Given the current status of the Covid-19 outbreak our efforts are somewhat hampered. We hope to notify individual property owners before July 1, 2020.
In the meantime, we hope you are safe and healthy.
The Assessing Division