The Parcel Value Analysis solution delivers a set of capabilities that help you improve the overall quality of property valuations by accessing key operational layers from assessment and tax business systems, narrow a search of property sales by defining a price range, year built, and living area, and provides a high-level view into changes in property assessments and tax revenue within a local government.
In this topic, you’ll learn how to use the solution by assuming the role of a user and performing the workflows below.
Analyze property value
Value Analysis Dashboard can be used to visualize the impact of sales, foreclosures, and assessment appeals on property value in a neighborhood or tax district.
Explore assessment neighborhoods
You will start by assuming the role of a residential property appraiser in an assessment organization responsible for valuing property. You are asked to use the to investigate specific assessment neighborhoods and identify assessed value outliers, analyze recent property sales, and review appeals and foreclosures.
- In a browser, go to the Value Analysis Dashboard.
- The Value Analysis Dashboard opens with sales, appeals, and foreclosures for and overall metrics regarding property value, and total property tax outstanding.
- Select an assessment neighborhood to refine the results.
- Select sales for the last 6, 12, 18, or a specific date range.
- Explore the neighborhood and noticed the range of assessed values, the parcels shaded in blue have higher value than parcels shaded in yellow.
- Click on a sale to see the details and a popup that describes the likelihood this sale could impact property tax levied against the property.
- Review the high-level metrics about the neighborhood including the current assessed value, current taxable value and the overall taxes owed.
Locate comparable sales
Now, you will assume the role of a residential property appraiser in an assessment organization responsible for valuing property. You are asked to use the Residential Comp Finder to investigate property sales by defining a price range, year built, and living area. The resulting list of properties sold can then be used to help determine the fair market value of a subject or prospective property.
- In a browser, go to the Residential Comp Finder app.
- Enter the parcel number, address or school district in the search box or click on the location directly on the map.
- Optionally, adjust the buffer slider to see a larger list of potential businesses.
- Review property details such as address, parcel number, year built, floor area, assessed value, sale price, sales date and sales ratio.
- Optionally, use the filters to refine the results. For example, use the Sale Amount filter to find a home sold between $250,000 and $350,000.