1223 Wildcat Assessment Comps Tax Tribunal excel sheet.pdf
Joseph Goodman Petitioner V Township Of Bingham Respondent · 26-002791-TT
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Adjustment based on total sqft / adj price land adj. from 9.57 acres @ $10,785 X acre diff. $25/sqft adjustment for buildings Adjusted based on comps 10785 OWNER Year Built Finished Sq. Ft Bed/Bath Property Acres Number of Stories Additional Building size sqft 2025 SEV Suggested market price (SEV x2) Price per Sq.ft Notes: I converted and compared based off suggested market price (SEV X2) did comparisons in $/sqft. The market sets the cash price with sales. 1223 Wildcat Rd (Current Assessment 2024 2815 2 bed, 3 bath 9.57 1 0 $351,200 $702,400 Suggested comparable price is listed in bold after adjusting for sq. footage and acreage. 2659 3111 W. Parks Rd., St. Johns, MI 2022 2944 11.11 1.5 (1) 1536 $244,800 $489,600 2944 sq.ft above grade, 48*32 pole barn. 2 car garage. Covered porch and deck. adjustments -16608.9 $472,991 $161 Adjusted for the acres but not the barn, then adj for sqft diff. -45789 $427,202 4394 N Dewitt Rd 2021 3153 4 bed, 3 bath 20 1.5 0 $400,000 $800,000 adjustments -112487.55 -$50,000 $637,512 $202 -99883.0163 $537,629 Class B Quality. Subtracted for the quality difference. 1770 Wildcat Rd 2017 3208 4 bed, 3 bath 1.38 1.5 (1) 2400 $361,100 $722,000 Custom built barn, Cathedral ceilings, Better quality, Cement driveway, 2 fireplaces, Den land and Barn adjustments 88329.15 -60000 -$50,000 $700,329 $218 Deducted $50k for quality difference and above average pole barn -119850.593 $580,479 7880 S. Lowell Rd (Sale) 2000 3422 3 bed, 2 bath 2.02 1 (1) 864 $211,900 $423,800 adjustments 81426.75 $505,227 $148 1503 Wildcat Rd, St. Johns (Sale) 1995 2100 3 bed, 2 bath 13.09 1.5 (2) 3200 $248,000 $521,000 Implied comparative value is $192sqft = $492,473. -37963.2 -80000 $403,037 $192 Sale Price was the $521,000 107284.558 $510,321 1400 E Wildcat RD (Sale) 1998 2879 4 bed, 3 bath 1.17 1 (1) 448 $248,500 $415,000 Sale price was $415,000 SEV much higher than the sale price. adjustments 90594 -11200 $494,394 171.72 3 car garage, ranch, with full finished basement -37779.3262 $456,615 $182 Avg. cost per sq. ft for comparable properties adjusted for acreage size Cost Analysis Method Suggested property value removing E.C.F and figuring $7400/acre for land. 9.57 acres Our average per sq ft costs based on ECF adjustments. Property Valuation based on the 2659 sqft @ .92 ECF 512104 x .92 = $471,135 471135 $541,943 / 2659 = $204 sq. ft Land valuation @ $7400/acre per county 9.57ac X $7400 = $70,818 $10,785 ac 103208 $574,343 / 2659 = $216 sq. ft E.C.F (economic Condition Factor) $541,953 574,343 1742 sqft 1st floor. 2 car garage. Offset with the barn. SEV more than the sale price of 395000 Cathedral ceilings, A lot bigger, All custom cabinetry, 3 Car garage. Went to state tax tribunal, assessor and everyone did analysis, assessment adjusted down $108,200 (21.2%) $10785/ac used in assessment w/ ECF .92