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Below are examples of types of evidence you will need to provide the Board of Equalization to have an appeal accepted.
Sold Property
Sold property has been listed and advertised by a through the Wasatch Front Regional Multiple Listing Service (MLS). If this is the evidence type you choose to base your appeal on, please submit sales of properties selling within one (1) year prior to January 01 of the current year. A minimum of three (3) is required but up to five (5) is preferred. Make sure that the information a Realtor provides you is in the format of a "Residential Full Report" when they are helping you with an appeal . Please note at the top of the example that the defined search criteria is illustrated. This information should also be included with your comparable sales.
See example.
A real estate settlement statement is the document you receive from a title company that discloses the sale price and all other charges incurred when a property is purchased. Although settlement statements may differ in format they all contain the same information. If you choose this evidence source to prefect your appeal, provide a copy of the closing document of the property you are appealing which has taken place within one (1) year prior to January 01, of the current tax year.
An independent "fee" appraisal is one of the best evidence types you can provide. This document contains a description of your property, a replacement cost approach value, a sales comparison approach value, and a final estimate of market value. This evidence type has many formats as well. Unless your property exhibits unique characteristics the most critical parts are the sales comparison approach and final opinion of market value that are contained in a "fee" .
Income Producing Properties
For income producing properties a rent roll and operating statement are the best source documents to support your opinion of value. The rent roll form and operating statement are forms that the Assessor uses. There are many ways to disclose rent and operating expenses but remember all of this information should be included before an appeal will be accepted.
See examples.
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