Assessed Value at Completion
Originally constructed in 1961, the property was purchased for $2,450,000 on November 13, 2020.
The old house was razed to begin construction for a new home measuring 3,400 square feet utltizing the most of the almost 6,500 square feet of land.
Construction was finalized in July 2022. Subsequently, we collaborated with the assessor, sharing details on construction costs, conducting analyses, and presenting comparable data. We also advised the property owner to consider the Prop 19 exclusion, which enables them to transfer their previous taxable value to a newly purchased or newly built home.
Through our analysis and ongoing communication with the county appraiser, we compelled the assessot to adjust the total assessed value by subtracting the old improvements and adding our agreed-upon value for the new additions. Coupled with the transferred values from the previous property using Prop 19, the lifetime final enrolled value closely aligns with the original purchase price!