Revaluation

Bogota

Letters introducing the Revaluation program, approved by the municipality have been sent. This mailing also included a two color, four-page brochure that explains the reasons for the program and the methodology to be employed.

Key personnel of Appraisal Systems, Inc. rode the entire town. As a result of this effort, preliminary homogenous neighborhoods were established.

The firm in cooperation with the assessor has established all criteria, essential variables, and cost parameters to be employed for use in the revaluation program.

A procedure has been implemented to identify, record and analyze all the usable sales for the purpose of establishing preliminary values.

All properties that have sold more than once in a particular sampling period have been identified, recorded and analyzed for purposes of establishing the trends in current market conditions as they apply to residential and commercial properties.

As of this date we have inspected approximately 95% of the residential properties in the municipality.

Photographers are taking front pictures of all improved properties for use in the revaluation program.