Is the valuation model that Bristol uses a proprietary model?
Absolutely not. Below we have listed sample models used for valuing residential buildings and residential building lots. Please be aware that our models are built to represent market conditions within Bristol. A typical building and land model are depicted below. All beginning costs are arrived at by performing an in depth study of the local market which is a process that includes one or more of the following steps- a complete review of recent sales transactions, consultations with local builders, consultations with local realtors, an examination of transactions where new properties were built and sold as well as the use of nationally recognized building cost manuals.
Residential Building Valuation Model:
Beginning square foot price +/- physical characteristics (bedrooms, bathrooms, quality of construction, flooring, fireplaces, etc.) = Adjusted cost per square foot
Adjusted cost per square foot X (times) building square footage - (less) building depreciation = building value.
Land Valuation Model:
Land units X (times) unit price X (times) land condition adjustment X (times) location adjustment = Land value.

Show All Answers

1. What is a revaluation?
2. Will a revaluation increase taxes?
3. Will all property values change?
4. How will I know if my assessment is equitable?
5. Does the Assessor's Office have the correct information on my property?
6. Why did my land value change differently than my building value?
7. What is market value and who determines my property value?
8. What is an informal hearing?
9. How do I prepare for a hearing?
10. How will I know if a change was made to my assessment after my hearing?
11. If I disagree with my assessment after a hearing, what are my options?
12. Is the valuation model that Bristol uses a proprietary model?
13. I am seeing a lot of news coming from the real estate industry. Is this being reflected in my new assessment?
14. Are waterfront properties unfairly singled out during a revaluation?
15. What sales did you compare to my home to arrive at my value?
16. What if there hasn't been a recent arms-length sale of my property?
17. What if there are no reasonably comparable sales?
18. I recently built my home. Will the actual construction costs be considered?
19. What will happen to my assessment if I improve my property?
20. Will my assessment go up if I repair my property?
21. How can my assessment change when I haven't done anything to my property?
22. Do all assessments change at the same rate?
23. Nobody inspected the inside of my home, how could you reassess it?
24. I've heard that you develop values by computer. Is that correct?