HomeMy WebLinkAboutMarket Assessment Value
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ANALYSIS AND INTERPRETATION
It is a general practice to use the three basic approaches in valuing real
estate: the Cost, Market, and Income Approaches. If done correctly, each
would give exactly the same answer; however since appraising is not an
exact science, but rather a matter of estimating value and not determining
value, the three approaches are used to be as exact as possible and to
serve as a check and balance system.
The most accepted method for appraising or estimating value of vacant real
property is through the Market Approach. Therefore the Cost and Income
Approaches have not been relied on in this report of rough estiaation of
value.
Eleven sales,were analyzed and market values were extracted froa the
appropriate sales to yield an estimate of value. Market extractions were
done for homesites, potential homesites, irrigated pasture land, and dry
pasture land. Through these extractions the subject parcels were assigned
values with regard to specific characteristics of each parcel such as
location, access, soils classifications, etc.
By reason of our investigation of subject property, sales study, data
gathered during research, and experience in appraising real estate, it is
our opinion that the Rough Estimate of Market Value of subject properties,
as of March 15, 1991, is:
PARCEL 1: 38-1E- 32 Tax Lot 100 $ 2,500.00 3./7 Ac
PARCEL 2: 38-1E-28 Tax Lot 600 $ 61,000.00 ~~ c) ~ ~~
-PtmCBL 3: ~ 0 LO 38-1E-33 'faA Lot 100 'l0-7.QOQ.ee
.. Pl\RCIO'J 4. SOLD 38-1R-32 TAX l.n~ 3M 1116,000.00
.-p A!\CEL -;: ~Cl.-l.lD€'1> 38-1R-34 Tax I..ot 100 C2'IO, 000.00
PARCEL 6: 38-1E-21 Tax Lot 100 $120,000.00 {60,dcJ Ac-
PARCEL 7: 38-1E-28 Tax Lot 500 & 700 $812,000.00 b'lf?Ji-- Ac..
38-1E-32 Tax Lot 200 A-
38-1E-33 Tax Lot 200 f<f6 . ~ l.--
The value summation of the individual parcels is $1,524,500.00.
Should these parcels be purchased as one property, the combined values of
the smaller more marketable parcels (numbers 1, 2, 3 & 4) should be
discounted by 10% and the combined values of the larger less marketable
parcels (numbers 5, 6, & 1) should be discounted by 20% to yield a rough
estimate of value for all seven parcels sold as one unit:
parcel~~z) ~& 4, $352,500 less 10% ($35,250) =
parcel~~ $1,112,000 less 20% ($234,400) =
$311,250
q~7.600
$1,254,850
All seven parcels sold as one unit
l-\" 1. (lo'1,{1J""O) -ltJ% ((P'i50) ~ c,'1-S.!"'o SAY
lD +"7 C'r~ 1..,IWV) - J-O ~(, ~1h,'fo9::'1 'f! 100-:-
. f(oC, ,CO
$1,254,850
$1,250,000.00
Page 21 of 30
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PARCEL 7
JACKSON COUNTY MAP REFERENCE:
38-1E-28 Tax Lot 500 & 700
38-1E-32 Tax Lot 200
38-1E- 33 Tax Lot 200
PURPOSE:
Rough estimate of value
ADDRESS LOCATION:
Approxiaate1y 2 miles North of Ashland.
This parcel of four tax lots lies adjacent
to the Northeast side of Interstate 5 and
the associated "Northbound" 1-5 weigh
station. This property extends uphill in a
Northeasterly direction across the East
canal of the Talent Irrigation District.
See attached plat.
OWNER OF RECORD:
Imperatrice, M.D.
ASSESSOR t S ACCOUNT NO.:
38-1E-28-5oo 1-012339-2
38-1E-28-7oo 1-012341-4
38-1E-32-2oo 1-012688-4
38-1E-33-2oo 1-012367-6
PRESENT USE:
224.4 ac. irrigated pasture
423.95 ac. dry pas ture
HIGHEST AND BEST USE:
1. 95 ac. homesite
422.00 ac. dry pasture
224.40 ac.-irrigated pasture
ZONE :
EFU Exclusive Farm Use
SIZE:
648.35 acres
PROPERTY DESCRIPTION: Dick Converse of the Jackson County Planning
Departaent states that this group of parcels
is described in Volume 356. Page 197, dated September 4. 1951. No
document could be found separating these tax lots prior to adoption of
county-wide zoning on September 1, 1973. As a result. this block of
land is considered as one parcel for development purposes.
This large parcel has an 80 to 90% chance or better for qualifying for
a farm dwelling permit on this EFU zoned land. Access would be via an
easement from or consolidation with 38-1E-33-100. The soils on this
parcel are virtually all Class 4 soils even though many of the acres
are irrigated. The soils are primarily Carney clay soils with some
Carney Cobb1y clay soil areas.
MOST INDICATIVE SALES:
Homesite: Sales 2, 5, 7. & 9
Dry pasture: Sales 2. 3, & 10
ESTIMATED MARKET VALUE:
septiC
- $ 40,000
561,000
211.000
$812,000
SAY $812.000
1.95 ac. homesite (no well. no
access problems)
224.4 ac. irr. pasture
422 ac. drY-land pasture
Page 20 of 30
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Sale No.3:
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Safely. G. & J. to Duke. John A.. Trustee
37-1W-36-500. 501. & 800 38-1W-12-1OO. 101. 102. & 103
38-1W-13-1oo & 101 38-1E-06-1oo
38-1E-07-200 & 202 38-1E-17-600
38-1E-18-2oo & 300
Location:
Near Payne Road. Valley View Road. and
adjacent areas
October 16. 1990 90-026226
S550.000 Cash
EFU
11 ac. irrigated pasture
1815 ac. dry pasture ",----.. '\
11 ac. irr. pasture @\s2. ~oo / ~
1815 ac: dry pasture @ S290jac.
Date:
Price:
Zone:
Size:
Value:
$ 27.500
l)26.~l)0
$553.850
Remarks:
1.826 acres of generally Southwest facing
slopes East of the Talent area. Property
provides spring and fall grazing except for
11 acres of irrigated pasture. There were
some pending homesites at the time of sale.
however they have been given no contributing
value due to risk of approval. roads.
culverts. and utilities necessary for
devel~t and location.
Verified:
Inspection & Public Record
Page 5 of 30
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