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DRAFT Fact Sheet - Open Book CITY OF JANESVILLE CITY ASSESSOR’S OFFICE Common Questions about Open Book & Board of Review How can I decide whether my assessment is fair, accurate and equitable? AND If I choose to meet with the assessor to informally discuss my assessment, how should I prepare and what should I expect? Is my property assessment fair, accurate and equitable? The City uses a CAMA (computer assisted mass appraisal) system to produce property values. The simplified description of that is “a giant calculator”. Physical property data and other value factors collected and monitored by Assessment staff are entered into the calculator and it completes the math. Thus in general, your property has been assessed equitably since the value has been arrived at using the same principals, practices and math used to estimate the values of all other properties within the city. Your assessment is accurate if the data that was used for your property is correct. That is why the Assessment staff periodically requests to inspect properties and update data. Uniformity of assessment within each class of property and between the classes is another indicator of equity. The Wisconsin Department of Revenue annually reviews the assessment levels by class for each jurisdiction. In summary, if your assessment is accurate, equitable and uniform, then it is a fair estimate of the value of your property. So how can you tell if your assessment is accurate you still ask? The best indicator is that if your house is assessed at a value equal to or less than the range of values that similar homes in your area of the city are currently selling for, that is a pretty good indicator that your assessment is accurate. Remember that for every style of home in every area of the city there will be homes at the top of the sale price or assessment range and homes at the low end of the sale price or assessment range. If you believe that your assessment is outside of the range of what similar homes are selling for or that they are assessed at, then you should visit with the Assessor staff during Open Book to confirm that their data is accurate. Why meet with the City Assessment staff and how long does it take? An informal discussion with the Assessor can often resolve a problem and frequently eliminates the need for a formal hearing before the Board of Review. The informal meeting serves to answer questions about the assessment process and to verify that the factual information the City has about your property is accurate. In general, it is not intended to be a negotiating session. The meeting will last between 15-30 minutes. Before making an appointment, please take time to review information you have received from the Assessor’s office and the information you have about your property. Familiarize yourself with the assessment process as much as possible. In order to allow each property owner to participate in the informal process if they chose to, appointments are required and will be limited to 30 minutes. Each property owner is allowed one meeting so make sure you are prepared for your meeting. If you own multiple properties that you wish to discuss, you should inform the Assessor’s office of the number of properties you would like to cover when you call to arrange an appointment. Although you will still be limited to one meeting, the time allotted will be extended to accommodate the number of properties to be covered. Please be prepared to discuss each property. When preparing, these are a few good places to start: 1.City’s website - www.ci.janesville.wi.us/assessor 2.State Department of Revenue - www.revenue.wi.gov/ 3.Various printed information is available by calling the City Assessor’s Office (608) 755-3045 or the State Department of Revenue (608) 266-2772. What happens during the meeting? What should I bring with me? During the meeting you and a property appraiser will make sure that the Assessor’s office data for items such as the size, age, condition, number of bathrooms, and other physical characteristics of your property are correct. You can ask any question that will help you understand the assessment process. In addition, you will have the opportunity to present factual data to the appraiser regarding a different opinion of the value of your property. Examples of acceptable factual data include:  Copies of your building plan with dimensions.  A recent private appraisal for the property (2 years or less in age).  Recent interior and exterior photos of the property that illustrate that the overall physical condition (not housekeeping) of the property is in less than average expected condition for the age of the house. Examples of items that might have a relationship to the assessed value include but are not limited to structural damage or impacts from major mistreatment of the building, major water leak problems, pest damage with records of treatment or long term deferred maintenance (roof, siding, or window replacement, and needs of similar character).  Information on the recent purchase of your property if that was completed within the past year or information on the recent sale prices of homes within your general area of the city that you believe are very similar to your home in physical characteristics.  Other information: estimates for uncompleted repair or construction activities, receipts for completed repair or improvement projects, certified survey or plat maps delineating lot size and area, condemnation notice or orders to raze or repair, income and expense information and lease agreements (for income producing property), records of farm rents and crop production activities (for agricultural use valuation), or any other factual information that is relevant to the value of the property. The primary purpose for the meeting is to allow you to exchange factual information with the Assessment staff, confirm their data and learn more about the assessment process. The appraiser involved in your meeting will not be reviewing the assessed value of your property, but instead they will be gathering data that will be used by a different appraiser to review your assessed value. That part of the process occurs following the conclusion of the meetings. You will be notified by mail in 4-5 weeks of the results of the completed property review. Following the receipt of the findings from your meeting with the Assessment staff, if you still believe the assessment is not an accurate estimate of value, you may proceed to the Board of Review to present evidence as such. You may learn more about the Board of Review at the following website: www.revenue.wi.gov/ or by obtaining a brochure from the City Clerk’s Office (608) 755- 3070. City Assessor’s Office City of Janesville P.O. Box 5005 Janesville, WI 53547-5005 Phone (608) 755-3045 Fax (608) 755-3196 www.ci.janesville.wi.us/assessor Facebook site Web www.ci.janesville.wi.us