AppealSealProperty Tax Comparison Templates
Analysis Tools
Standard templates and examples for property tax analysis and comparisons
Templates
A) Comp grid (paste into your sheet)
Columns:
| Address | Distance(mi) | SaleDate | LivingSF | LotSF | YrBuilt | Beds | Baths | Condition | Features | SalePrice | $/SF | TimeAdj | SizeAdj | LotAdj | Cond/AmenAdj | AdjPrice |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 123 Main St | 0.2 | 2024-01 | 2500 | 7000 | 1998 | 4 | 3 | Good | Pool, Updated Kitchen | $750,000 | $300 | 1.02 | 0.98 | 1.00 | 1.05 | $772,650 |
| 456 Oak Ave | 0.3 | 2024-02 | 2400 | 6800 | 2000 | 4 | 2.5 | Excellent | New Roof, Solar | $725,000 | $302 | 1.01 | 1.00 | 0.99 | 1.03 | $746,748 |
| 789 Elm Dr | 0.5 | 2023-12 | 2600 | 7200 | 1995 | 4 | 3 | Average | Standard | $700,000 | $269 | 1.03 | 0.96 | 1.01 | 0.95 | $677,562 |
B) Land/Improvements breakout (example)
- Column A (roll): Land $700,000; Improvements $1,000,000 → Total $1,700,000 → landShare = 41.18%.
- Your reconciled total (Column B Total): $1,600,000
- Land value (reconciled): $1,600,000 × 0.4118 = $658,880
- Improvement value (reconciled): $1,600,000 × 0.5882 = $941,120
C) Adjustments Explained
Time Adjustment: Market appreciation/depreciation since sale date
- Formula: (1 + monthly_rate)^months_elapsed
- Example: 2% annual = 0.167% monthly
Size Adjustment: Price differential for square footage variance
- Typically $50-150/SF depending on market
- Diminishing returns above certain thresholds
Lot Adjustment: Value of land size differences
- Usually minimal unless significant variance (>20%)
- Consider utility not just size
Condition/Amenity Adjustments: Quality and feature differences
- Pool: +$15,000-30,000
- Updated kitchen: +$20,000-40,000
- View premium: +5-15% of base value
- Condition ratings: Excellent (+10%), Good (0%), Average (-5%), Fair (-10%)
D) Statistical Measures
Coefficient of Variation (COV)
- Measures uniformity of assessments
- Formula: (Standard Deviation / Mean) × 100
- Target: <15% for residential properties
Price Related Differential (PRD)
- Tests for assessment regressivity
- Formula: (Mean Ratio) / (Weighted Mean Ratio)
- Target: 0.98 - 1.03
Assessment to Sale Ratio (ASR)
- Individual property assessment accuracy
- Formula: Assessed Value / Sale Price
- Target range: 0.90 - 1.10