Agenda - 09-02-2008 - 4e - Laserfiche WebLink

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USE OF DESIGN FACTORS Design factors may range from 0.01 to 9.99 and are applied to account for the additional cost of special design features or exceptional architectural styling. The use of mixed materials in either the exterior or the interior of the dwelling is probably the most .common example of this. If for instance the exterior walls of a dwelling were constructed of a combination of frame and masonry materials, the replacement cost would be computed from a frame schedule and a design factor of 0.01 to 0.05 added to compensate for the cost of the masonry portion. Design factors may also be used to consider the additional cost of "walk-out" or "day-light" basements, which have an exceptional amount of exposed basement wall and may have features (windows, doors, etc. ) of better quality than those normally anticipated for the basement level. Design factors may also be used to capture the value of unusual amenities such as residential elevators. Note: The final determination of the quality/market factor for any property will be based on review of quality of materials, workmanship and market conditions within that properties neighborhood or very similar neighborhood. The descriptions of "Grade A" through "Grade E" dwellings incorporated in this section, along with incorporated pictures, are for purpose of illustration only. As stated earlier what may be one quality/market factor in one neighborhood may well be entirely different in a different neighborhood. MARKET ADJUSTMENT FACTOR The market adjustment factor appears on the summary screen only and does not print on the property record card. This adjustment factor allows the appraiser to reduce the entire property, land and building values by a percentage. This factor is typically applied to condominium units but can be applied anytime that market conditions warrant.