Properties included in this classification are institutional, municipal reserve, municipal school reserve and environment reserve. The type of property ranges from land only accounts intended to be kept in a natural state to large complexes housing education and health facilities. These properties are often subject to agreements in the public interest which may affect market value. It is for this reason and also due to a lack of sales which results in the cost approach being used to value these properties.
The Marshall and Swift Cost Estimator is used to value the improvements and the sales comparison approach is used to develop the land rates.
City Business
Assessment & Taxes
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