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How are Market Values for residential properties determined?

April 26, 2017market properties Residential values

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How are Market Values for residential properties determined?

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When there has been a recent sale on the Subject parcel: • Take the MRA Estimate, the Weighted Average, and the Subject’s Adjusted Sales Price • Add the 3 numbers • Divide by 3 to find the average For all other residential parcels: • Take the MRA Estimate and the Weighted Average • Add the 2 numbers • Divide by 2 to find the average Note: Properties that are under construction and properties that are unique may be valued using an alternate method.