The Orange County Property Appraiser, also known as the Appraisal Examiner is responsible in finding, evaluating, and fairly valuation all commercial and residential property, both personal and real, in the county. This individual is mandated by law to be unbiased and objective in their work. The market value of all property is determined by the current real estate marketplace. The Appraisal Examiner's job is to review and determine the fair market value based upon several different factors. These factors are: comparison of that market to the surrounding area, competition for properties, and many other aspects.
For many property owners, using an impartial and computer assisted mass appraisal program is very helpful when it comes to getting a property appraised quickly. Mass evaluation is a computer assisted analysis that can give an accurate value, with little or no subjective analysis from the appraiser. Because there is little or no emotion involved, the Appraiser has a much better chance of giving a true and fair value to a property. Computer assisted appraisal programs are very accurate and tend to give more accurate results than some home appraisal companies.
The orange county property appraiser will also have a website disclaimer at the end of the report for each individual appraisal which allows the client to obtain the report, at the end, for their tax purposes. In order to obtain this valuable report, the individual must fill out the form that is located at the bottom of the report. This website disclaimer must be completely filled in if the property has been appraised for resale purposes. If not, the website disclaimer will ask for the last 7 years of taxes, unless the individual can supply a current data file for the property.
Why You Need a Qualified Orange County Property Appraiser
If the property being appraised is to be sold, the website disclaimer will also ask for the current tax values of the property as well. The individual will need to provide this information if they wish to sell their property at a future point in time. This is required by law, to ensure that the tax rate is accurate. If the person is using the website to obtain an estimate of the value for their own tax purposes, they will need to include this information. The value will need to be in whole dollars; however, the amount could vary on a daily or monthly basis, depending on how much the market is actually worth at the moment.
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When it comes to the income approach when valuating residential properties, most counties now use the income-based method. This is where the value of the property is equal to the fair market value multiplied by the amount of current income that the property is worth. The other option is to use the comparable sales method. With this approach, the value of the home is compared to similar homes in the area and then compared to the income of the homeowner.
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There are several different methods that can be used when fairly valuing a property. Some counties use the sales comparison method where there is a base rate applied to comparable homes in the area and the value is adjusted based on how much the homeowner makes from their job. Other counties use the equitable value method. This is one that considers the fair market value of comparable homes in the area and then adjusts based on the homeowner's net income from various sources. The last option is the cost-of-service approach, which uses available data to fairly value the home.
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The role that the Orange County Public Library Board plays in fairly valuing any Orange County residential property is to act as a mediator between the parties. This means that if there is an argument, the mediator first determines what would be a fair market value of the property. From this point, the board will make recommendations to the County Recorder or Register of Deeds on what the appropriate amount is. Once this has been determined, the County Recorder or Register of Deeds will then review the recommendations and make the final decision on what the appropriate amount is. In Orange County, this process is known as being the Division of Property Appraisal Appraisals (DAAP).
In the end, if you hire a qualified and competent Orange County property appraiser then you will find that they are more than worth their fee. If you would like to learn more about the process of fair and fairly valuating your real estate property then be sure to contact an experienced appraiser today. They can help you understand what is involved in this process and what your role is in terms of helping to mediate any disagreements or issues that may arise during the appraisal process. Applying a qualified and competent Orange County appraiser to the task of fairly valuating your property is one of the most important things that you can do today to help you understand what your role is in the real estate market and to help you get the best deal possible when it comes to purchasing real estate in Orange County.
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