Cost Approach

LandMark uses Craftsman Building Cost Manual. New updates for the manual are sent out periodically.

Cost Manual Info

Appraisal Zone: Number indicating which revaluation year parcel is in.
Base Year: The base year determines the year for the LandMark System to calculate the age of any buildings in the residential or commercial appraisal file
Appraisal Year: the year in which LandMark is currently valuing. It updates when user processes pending accounts
Manual Date: the date of the manual in use
Current Cost: cost factor applied to everything in the county that uses that cost manual
Local Mltp: local multiplier (if any) This number is auto fill and comes from the local trend set up in the Appraisal Zone Table (Appraisal Manuals Tab).

Values
Current Assessed, Appraised and previous values are broken down by land, improvement and mobile home values.

Cost Approach: breaks down the Value based on Replacement Cost New less Depreciation.

Mobile Home Info will contain mobile home specifics.

NADA Value: Is the suggested value of the mobile home driven by the NADA Table. This doesn’t give a depreciation factor, just market value. The generic value given is based on size, year built, condition and quality. NADA *will override whatever quality user puts on, since it knows the manufacturer in the model it. NADA only uses the quality you put on if for some reason that manufacturer and model is either blank or it doesn’t line up. If user wants to be more accurate, EDIT the record, CHOOSE manufacturer and model. This value will not print on any reports at this time.* The NADA cost manual is part of the updated cost manual LandMark distributes towards the first of July.

NADA as Cost: There is a new field to indicate to use the NADA value as the cost vs the RCN from the NBC cost. This is when the cost value is selected. This can be checked but will not take effect on the costing piece until the 2024 cost manuals are released. Mobile Home Value will be NADA value + (Miscellaneous Impr value * (1-TotalDepr)). The Depreciated Misc Impr along with the garage cost (depreciated) will also be in the impr value.

Title Status
Surrendered: Check if title has been surrendered.
New Notice Required: Check if a new notice needs to be sent. Note: The notice (Form 926-P) will be a valuation notice NOT change of value notice. This field automatically clears when user clears penalties and filing dates during the End of Year Procedures.

Personal Property Penalty

Rendition Filing: If a personal property rendition is required, this box will be checked.
Filling Date: If the filling date is modified in the assessment file, it will automatically update here as well.
Personal Percent: The penalty percent will show here.