Bryan 9536 Thames Docket #24-03558-TT.pdf
Katey Bryan, Petitioner V Township Of White Lake, Respondent · 24-003558-TT
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Page 1
Page 1 of 18 PROPERTY VALUATION REPORT SUBJECT PROPERTY: 9536 Thames Blvd White Lake Twp, MI 48386 SIDWELL NUMBER: Y-12-14-203-021 PREPARED FOR: Michigan Tax Tribunal (MTT) MTT DOCKET NUMBER: 24-003558 PREPARED BY: Heather Charlick, MCAO WHITE LAKE TOWNSHIP ASSESSOR’S OFFICE 7525 Highland Rd. White, Lake, MI 48383 (248) 698-3300, EXT #3 EFFECTIVE DATE OF VALUATION: December 31, 2023 & December 31, 2024
Page 2
Page 2 of 18 PETITIONER/PROPERTY OWNER: Katey Bryan LOCATION OF PROPERTY: 9536 Thames White Lake, MI 48386 LEGAL DESCRIPTION: T3N, R8E, SEC 14 ENGLISH VILLAS SUB LOTS 176, 177 & 178, ALSO PART OF LOT 179 DESC AS BEG AT SE LOT COR, TH NELY 87.79 FT ALG COMMON LOT LINE TO LOTS 178 & 179, TH NWLY 15 FT ALG LINE PERPENDICULAR TO PREV DESC LINE, TH SWLY 89.06 FT TO BEG 12-21-12 FR 003 & 020 SIDWELL NUMBER: Y-12-14-203-021 PRINCIPAL RESIDENCE EXEMPTION (PRE): 100% SCHOOL DISTRICT: Waterford Schools PURPOSE OF THE VALUATION DISCLOSURE: The purpose of the valuation disclosure is to estimate the true cash value of the subject property. True cash value is defined as "the usual selling price at the place where the property to which the term is applied shall be at the time of assessment, being the price, which could be obtained therefore, at private sale." Market value is held to be synonymous with true cash value. Market value can be defined as "the highest price in terms of money which a property will bring if exposed for sale in the open market, allowing a reasonable time to find a purchaser who buys with knowledge of all the uses to which the property is adapted and for which it is capable of being used." ZONING: Residential- Single Family R1D SITE DATA: .397 acres/170’ lakefront ASSESSMENTS: Original Assessment Values Adjusted MBOR Values 2024 True Cash Value (TCV): $763,901 $763,901 2024 Assessed Value (AV): $381,950 $381,950 2024 Taxable Value (TV): $318,620 $318,620 2025 True Cash Value (TCV): $773,022 $773,022 2025 Assessed Value (AV): $386,510 $386,510 2025 Taxable Value (TV): $328,490 $328,490
Page 3
Page 3 of 18 HIGHEST AND BEST USE: Highest and best use is determined to be: That reasonable and probable use that will support the highest present value, as of the effective date. Highest and best use is the appraiser’s opinion of that use which will contribute to the use can be subjective or objective. If the assessment is based on the findings of a market study and an economic and highest and best use study, then the highest and best use is objectively supportable. If the highest and best use is based on the experience of the appraiser then the estimate is subjective. The estimate of highest and best use for the subject property is based on a subjective opinion. The subject property is zoned for residential use and it is not feasible that the property would be used for any other purpose. It is therefore concluded that the existing use is the highest and best use. THE VALUATION PROCESS: Real estate is principally valued by the Cost, Market, and Income Approaches to value. 1. The Cost Approach is the replacement cost new less accrued depreciation plus the estimated value of the land. 2. The Market Approach is an indication of value by comparing similar properties which have sold, and adjusting for differences. 3. The Income Approach is an indication of value by analysis of the income attributable to the land and improvements. These three approaches are analyzed and weighed, and finally correlated into a final indication of value. In the case of a single-family residence, the income approach is not generally applicable. The value for assessing purposes was based primarily on a cost approach and market approach.
Page 4
Page 4 of 18 NEIGHBORHOOD DESCRIPTION: The Subject is located on all sports Pontiac Lake. The neighborhood consists of varying housing styles and dates of construction. This is common for waterfront communities in the area. That said, the Subject is located on a desirable large parcel of 3 lots toward the back with many homes that sit on single or double lot parcels, being both cottages and newer constructed homes. For the most part, sites around the lake have been fully developed for quite some time. The area is serviced by the Waterford school district. The neighborhood has paved roads and no sidewalks, with private well and septic systems. This neighborhood is in close proximity to schools, restaurants, shopping and recreation. PROPERTY DESCRIPTION: The subject site is located on the north side of the southern peninsula of Pontiac Lake. In addition to providing northerly views, the site is located near the end of a low-traffic, dead- end residential street. The site has good appeal. Built in 2007, the subject property is a two story 2089 square foot, brick and siding residence on a larger sized lot for lakefront homes in the market area. Built on a crawl space, the subject offers 3 bedrooms, 3 full baths, fireplace, brick patio at the lakeside as well as a covered deck. There are 2 sheds to offer more storage in the back and additional driveway parking near the sheds.
Page 5
Page 5 of 18 SALES COMPARISON APPROACH
Page 6
Page 6 of 18 SUBJECT COMP.#1 COMP.#2 COMP. #3 COMP. #4 Y-12-14-203-021 Y-12-11-477-007 Y-12-13-104-020 Y-12-14-202-022 Y-12-13-155-006 9536 Thames Blvd 2024 2665 Tackels Dr 8852 Tackels Dr 2031 Drury Ln 2060 Kingston Date Sold/Amount - 11/5/2021 $531,000 5/31/2023 $575,000 2/25/2022 $610,000 4/24/2025 $615,000 School District Waterford Waterford Waterford Waterford Waterford Structure Type 2 Story 2 Story 2 Story 2 Story 2 Story Year Built / Remodel 2007 1940 2004 2003 1940 landSize 0.397 A/170 front | 0.134 A/44.7 frontage 125,000 | 0.19.A/70 frontage 125,000 | 0.132 A/84' frontage 125,000 | 0.144 A/50' frontage 125,000 | View Lakefront Lakefront - Lakefront - Lakefront - Lakefront - Condition Average Average - Average - Average - Average - Construction Quality ~~ Average/Good Average/Good C+5 5,000 Average/Good BC - Average/Good C+5 5,000 Average C 5,000 Baths 3Full/Ohalf 2Full/1half 1,500 2Full/1half 1,500 3Full/1Half (1,500) 2Full/Ohalf 3,000 Garage/Carport 2/Att-469sf 1/Att- 275sf 4,000 2/Att-456sf - 2/Att-5285f (1,000) 2/Dtch - 432sf 2,000 Heated Garage No No - No - No - No - Basement Crawl Crawl - Crawl - 739sf (12,000) 360sf (12,000) Basement/Finish 0 0 - 0 - 600sf (8,000) 0 - Ext Amenities: Porch/Patio/Decks Similar - Similar - Similar - Similar - Updates/Upgrades Average/Good Average - Average/Good - Average - Average - Square Footage 2,089 2,016 - 2,226 (3,400) 1822 6,700 1,680 10,200 Adjusments $135,500 $123,100 $114,200 $133,200 Adjusted Sales Price $666,500 $698,100 $724,200 $748,200 Land Comp Land Comp Y-12-11-477-021 Y¥-12-14-201-015 2549 Tackels Dr 9604 Bukingham 12/5/2024 $390,000 6/8/2022 $260,000 Waterford Waterford Ranch/Demo Vacant Land Lakefront Lakefront Page 6 of 18
Page 7
Page 7 of 18 Four comparable sales are presented for the market analysis along with two land sales, all on Pontiac Lake. Due to the lack of similar sales of improved parcels with the same size lot, the included land sales are down the street from the subject and have similar appeal, but are still shy the frontage on the lake. The first parcel, 12-11-477-021, only 48’ of lakefront. It was sold with a 1940 ranch home that was quickly demolished and the parcel was combined with the contiguous parcel to create child parcel 12-11-477-032 for the 2026 tax roll. The second parcel, 12-14-201-015, has 105’ of lakefront. Otherwise, the comparable sales are adjusted based on overall site appeal (size, view, location appeal), with the appropriate adjustment made on the “land size/lake appeal” line of the sale grid. Similarly, exterior improvements are presented on one line of the sales grid and are analyzed together based on an overall contribution value. The sales presented provide reasonable support for the market value of the Subject. In the final analysis, greatest weight is given to Comp 2, which required the fewest adjustments. Comp 2 is judged to have the most similar overall appeal to buyers.
Page 8
Page 8 of 18 Location Maps [] - 4 o [-.) [9] oo © a
Page 9
Page 9 of 18 SUBJECT PHOTOS COMPARABLE 1 PHOTOS
Page 10
Page 10 of 18 COMPARABLE 2 PHOTOS COMPARABLE 3 PHOTOS
Page 11
Page 11 of 18 COMPARABLE 4 PHOTOS
Page 12
Page 12 of 18 COST APPROACH
Page 13
Page 13 of 18 COST APPROACH Annually, assessors perform mass appraisals using the cost approach method to calculate property values throughout their jurisdiction. The State Tax Commission (STC) provides a cost manual that is mandatory for assessors to use to price out the cost of construction. The cost manual is published using state-wide construction cost. A county multiplier (supplied by the STC) is applied to this data to reflect the construction prices within the county. An Economic Condition Factor (ECF), which adjusts the county construction cost to reflect the market conditions and prices in the local municipality, is also applied to the cost data. The Cost Approach method is most accurate when valuing newer construction properties that have limited depreciation. The Subject was built in 2007. The petitioner/property owner purchased the improved subject site in 10/2018 for $565,500. The Property Valulation Report that shows a detailed cost breakdown is included on Pages 16 & 17 of this report. As indicated on the Property Valuation Report, there is a 16% physical depreciation that had accrued. The 2024 record card for the subject property containing the details of the subject improvements are included on the next two pages.
Page 14
Page 14 of 18 parcel Number: Y -12-14-203-021 Jurisdiction: WHITE LAKE TWP | David Hie County: Printed on 11/21/2025 Grantor Grantee Sale Sale Inst. Terms of Sale Liber verified Prent. Price Date Type & Page By Trans. PLACENCTA VALENTIN C BRYAN KATEY L 565,600| 10/11/2018 [wo 03-ARM"S LENGTH 52281:109 PROPERTY TRANSFER 100 KOBUS ALANA KOBUS ALANA 1) 07/22/2016 |QC 21-NOT USED/OTHER 49642:173 OTHER KOBUS ALANA PLACENCIA VALENTIN C 396,500) 07/22/2016 [wD 33-T0 BE DETERMINED 49664:822 PROPERTY TRANSFER 100.00 Property Address [CTass: RESIDENTIAL-IMPRO |Zoni ng: RID Building Permit(s) Date Number Status 9536 THAMES BLVD School: WATERFORD SCHOOL DISTRICT vindow/Roof/S1ding 09/28/2021 |v21-02415 Closed P.R.E. 100% 10/16/2018 other 10/04/2011 |y1135195 Closed Owner's Name/Address TTonTy: 408 NewsuiTding 03/23/2007 |y0727915 Closed BRYAN, KAT savan was 2024 Est TCV 763,901 Hi L i i cE a BEVR8386-1573 X [Improved vacant Land value Estimates for Land Table 11L.Pontiac Lake Public Co * Factors * Improvements Description Frontage Depth Front Depth Rate wai Reason value Trt Road Lakefront 60.00 101.00 1.0000 0.9174 2700 1 148,623 | [oirt Roa Lakefront 48.33 112.00 1.0000 0.9661 2700 50 Excess Land 63,037 Tax Description Gravel Road Lakefront 55.47 111.00 1.0000 0.9618 2700 50 Excess Land 72,017 T3N, REE, SEC 14 ENGLISH VILLAS SUB LOTS fave Roa 170 Actual Front Feet, 0.40 Total Acres Total Est. Land value = 283,677 176, 177 & 178, ALSO PART OF LOT 179 DESC rorm sewer AS BEG AT SE LOT COR, TH NELY 87.79 FT Sidewalk | ; ALG COMMON LOT LINE TO LOTS 178 & 179, TH water Land Improvement Cost Estimates i NWLY 15 FT ALG LINE PERPENDICULAR TO PREV Sewer Description Rate Size % Good Cash value DESC LINE, TH SWLY 89.06 FT TO BEG 12-21- Electric D/w/P: Brick on Sand 19.43 1042 91 18,424 12 FR 003 & 020 shed: wood Frame 28.38 160 83 3,769 Gas Shed: wood Frame 31.08 100 83 2,580 Curb . Total Estimated Land Improvements True Cash value = 24,773 Street Lights Comments /Influences standard utilities underground Utils. 8/22/23 - corr bdrm count per previous Topography of comment. HMC Site 11/8/18 Home, left note, updated pics, plu covered area ( in rear. per Level istitng: 3 bd, 3 ba, 3 vent fan, hearth, Rolling Low High Landscaped Swamp wooded pond waterfront Ravine wetland N Year Land Building Assessed Board of| Tribunal/ Taxable Flood Plain value value value Review other value who when what 2024 141,840 240,110 381,950 318, 620C JAS 02/04/2013 other 2023 141,840 202,600 344,440 325,000m 303,450C 2022 141,840 166,120 307,960 289,000C 2021 141,840 155,620 297,460 279,770C Page 14 of 18
Page 15
Page 15 of 18
Residential Building
1 of
1
Parcel Number:
Y -12-14-203-021
Print ed on
11/21/2025
Building Type
(3)
roof (cont.)
Eavestrough
(11) Heating/Cooling
(15)
Built-ins
(15) Fireplaces
(16) Porches/pecks
(17) Garage
Xx
Brick/siding
(7) Excavation
No.
of Elec. Outlets
Many
|x [Ave.
Few
‘Building Areas
Stories
Exterior
2 story
siding
1 story
Siding
other Additions/Adjustments
Plumbing
3 Fixture Bath
Ceramic Tile Floor
vent Fan
peck
Treated wood w/Roof
Treated Wood w/Roof
roof Cover only
Garages
i
A
Class:
C Exterior:
Bri
Unsupported
Len:
[X"|ashphal t shingle
Chimney:
cnts.Sup: conc.crwl
X
Insulation
Basement:
0 S.F.
a3) Plumb
.
Crawl:
992 s.F.
umbing
Cs.
slab:
0 S.F.
Average Fixture(s)
ny
Large
.
3/3 Fixture Bath
X
Ave.
X
Ave,
Height to Joists: 0.0
2 Fixture Bath
Few
small
| (8) Basement
softner, Auto
X
[wood Sash
|Conc. Block
softner, Manual
metal
Sash
Poured Conc.
Solar water Heat
X
vinyl
sash
Stone
No Plumbing
pouble Hung
Treated wood
Extra Toilet
Horiz.
Slide
concrete Floor
Extra Sink
.
Separate Shower
X
Casement
(9) Basement Finish
3/ceramic Tile Floor
Double Glass
Recreation
SF
Ceramic Tile wains
X
Patio Doors
Living
SF
Ceramic Tub Alcove
X
Storms
& Screens
walkout Doors
(B)
3/vent Fan
1
No Floor
SF
(14) water/Sewer
(3) Roof
|
0/walkout Doors
(A)
Tpublic water
X |GabTe
[cambreT}
1
{public
Hip
mansard|_(10) Floor Support
ublic
Sewer
Flat
shed
Joists:
1 water well
1000 Gal. Septic
2000 Gal. septic
Base Cost
Common wall:
1 wall
Door Opener
Porches
ccp
(1 story)
Exterior
Lump Sum Items:
#=* Information herein deemed reliable but
Brick veneer
<<<<< Calculations too Tong.
Foundation
Size
Crawl Space
992
B1t-In Gar.
105
Total:
2
3
3
{eck Portion)
165
roof Portion)
165
165
ck Foundation:
42 Inch (Finished)
469
1
1
44
420
See valuation printout
for
X
|single Family
X |Gas
[oi
Elec.
|AppTiance Allow.
Interior
1 Story
|Area|Type
vear Built:
2007
Mobile Home
X Insulation
wood |
Coal
Steam
cook Top
Interior
2 Story
44|ccp
(1 Story)
‘Car Capracity:
2 car
Town Home
0/Front overhang
Forced Air w/o bucts |
1 Dishwasher
2nd/same stack
| 165 Treated wood
w|C 25%: €
Duplex
0 other overhang
Forced Air w/ Ducts
1 Garbage Disposal
Two Sided
165 Roof cover onl Exverior prick
A-Frame
(4) Interior
Forced Hot water
Bath Heater
Exterior 1 Story
Brick
ven. :
1
;
board
vent Fan
1 Exterior
2 Story
Stone ven.:
0
X |wood Frame
Plaster
Electric Baseboar!
c
MN:
1
wall
£1
ceil.
Radi
Hot Tub
prefab
1 story
ommon wall:
1 wa
paneled
wood T&G
ec.
Cel].
Radiant
Unvented Hood
prefab
2 Story
Foundation:
42 Inch
Building Style:
Trim & Decoration
Radiant (in-floor)
vented Hood
Heat Circulator
Finished 7: ves
colonial/2sty
Electric wall Heat
Intercom
1 Raised Hearth
Auto. Doors:
1
—
Space Heater
Jacuzzi
Tub
Mech.
Doors:
0
MR
Rerodeled Size of Closets
wall/Floor Furnace
Jacuzzi
repl.Tub
[osrect vented ca
Area:
469
_—
[Lo
[x Jord
|
[small
x Forced Heat & Cool
Oven
Cass:
€ 510
% Good:
0
Condition: Good
"Doors
SoTid] x W.c.
Heat Pump
1 microwave
Effac. Age:
16
Storage Area:
0
Room List
No Heating/Cooling
Standard Range
-
Age:
LL conc. Floor:
0
[Basement
|
(5) Floors
self Clean Range
|Floor Area: 2089
f—
4 1st Floor
Kitchen: Hardwood
|
[central
Air
Sauna
Total
Base New:
381,575
E.C.F.
[Bsmnt Garage:
32nd Floor
other:
wood Furnace
Trash Compactor
[Total Depr Cost: 320,740
x 1.420
Carport Area:
her:
(12)
Electric
central vacuum
Estimated T.C.V.:
455,451
3 Bedrooms
Other:
1 security System
Roof’:
(1) Exterior
(6) ceilings
o|
Amps service
Cost Est.
for Res.
Bldg:
1
Single Family
Colonial/2sty
CIs
¢€ 10
Blt 2007
Wood/ShingTe
x|orywall
||
No./Qual. of Fixtures
an
.
d
A
1
A
H
Heating System:
Forced
Heat & Coo
Aluminum/vinyl
[Ex
[x [ord-
[
[Min
Ground Area
= 1097 SF
Floor Area
= 2089 SF.
Brick
phy/ab. Phy/Func/Econ/Comb.
% Good=84/100/100/100/84
Cost New
Depr.
Cost
285,671
239,969
10,016
8,413
3,623
3,043
817
686
3,934
3,423
*B7%
3,087
2,686
3,087
2,593
32,952
27,680
-3,893
-3,270
589
495
1,467
1,232
7,783
6,538
complete pricing.
>>>>>
not guaranteed***
Page 15 of 18Page 16
Page 16 of 18
assessmentaoll
roll:
WHITE LAXE TWP 2028
1172172025
valuation Report
03:16 AM
¥ -12-14-203-021
2024 Est.
T.C.V.
BRYAN,
Property Class:
401
Map
#:
408
KATEY
9536 THAMES BLVD
WHITE
LAKE TwP
|
Dawid Hieber WHITE
LAKE,
WI 48386-1571
Land value Estimates for Land Table 1lL,.Pontiac Lake
* Factors
*
pescription
Frontage
Depth
Front
Depth
Rate %adj. Reason
value
Lakefront
60.00 101.00 1.0000 0.9174
2700
100
148 623
vakefront
48,33 112.00 1.0000 0.9661
2700
50
Excess Land
63,057
Lakefront
55.47 111.00 1.0000 0.9618
2700
50
Excess Land
72.017
170 actual
Front Feet,
0.40 Total
acres
Total
Est.
Land value
=
283,677
Land Improvement Cost Estimates
Description
Rate
Size
% Good
Cash value
o/wW/P:
Brick
on
Sand
19.43
1042
al
18,424
shed:
wood Frame
28.38
160
83
3,760
Shed:
wood
Frame
31.08
100
E3
2,580
Total
Estimated Land Improvesents True Cash value
=
24,773
cost Est,
for
Res.
Bldg:
1
Single Family
colomial/2sty
©ls
© 10
elt 2007
(11)
Heating System:
Forced Heat & Cool
Ground Area
=
1097 SF
Floor area
=
2089
SF.
phy fab, phy /Func/Econ/Comb.
% Good=84/100,100/100,/84
Building Areas
stories
Exterior
Foundation
Size
Cost
New
Depr.
Cost
2 story
Siding
Crawl
Space
992
1 story
siding
BElt-In Gar,
105
Total:
BS ,AT1
239,964
other additions Adjustments
Plumbing
3 Fixture
Bath
2
10,016
8,413
ceramic Tile Floor
3
3,623
3,043
went
Fan
3
B17
GEG
Deck
Treated
wood w/Roof (Deck Portion)
165
3,034
3,423
*B7% Good
Treated wood w/Roof (Roof Portion)
165
3,087
2,686
roof Cover only
165
3,087
2,503
Garages
Class:
© Exterior;
Brick Foundation:
42
Inch (Finished)
Base {ost
469
32,952
27,680
Common Wall:
1 wall
1
-3,893
-3,270
Door Opener
1
589
495
Porches
cP
(1 Story)
44
1,467
1,232
Exterior
arick veneer
420
7, 7H
6,538
Stone Venesr
192
7,857
G6, 600
water/sewer
Public Sewer
1
1,610
1,352
well,
100 Feet
1
6,261
5,259
Built-Ins
Dishwasher
1
240
706
Garbage isposal
1
282
237
Microwave
1
456
383
Security System
1
6,008
5,047
Page
16 of 18Page 17
Page 17 of 18 Subject Sketch
Page 18
Page 18 of 18 FINAL RECONCILIATION AND ESTIMATE OF VALUE: This report was compiled to determine the market value of the subject property as of December 31, 2023 for the 2024 & 2025 tax year. The following is a summary of the indicated market value: TCV AV TV 2024 MARKET APPROACH: $697,000 $348,500 $318,620 2025 MARKET APPROACH: $718,600 $359,300 $328,490 2024 CURRENT ASSESSMENT: $763,900 $381,950 $318,620 2025 CURRENT ASSESSMENT: $773,020 $386,510 $328,490 The sale comparison approach prepared on behalf of White Lake Township contains four comparable sales and two land sales, ranging from 11/2021 to 4/2025. Although not all the sales are ideal, the data presented in the sale comparison approach provides reasonable support for the market value of the Subject. The sale comparison approach presented sales that are similar to the Subject. The indicated value for the subject property lies within the adjusted sale price range of $666,500 and $748,200. The average sale price is $697,183. Although Comp 1 was closer in overall square footage, the garage was significantly smaller considering there is also no basement storage. This adjustment could make a larger impact in the market over the square foot difference. Comp 3 has the lowest net adjustments, however with the finished basement, could again impact the market differently. Comp 4 had the largest square foot difference, including some unfinished basement. Comp 2 has the most similar appeal to buyers. For these reasons, Comp 2 is given significant weight in the final analysis based on overall appeal. For the 2024 tax year as determined by the cost approach were based on a land value of $283,677, plus depreciated building cost of $455,451, plus land improvements of $24,773 equals a true cash value (TCV) of $763,901. The 2024 assessment value was not protested at the 2024 March Board of Review (MBOR), but was added by Tax Tribunal as a subsequent year. As well, the 2025 tax year as determined by the cost approach were based on a land value of $283,677, plus a depreciated building cost of $465,013, plus land improvements of $24,332 equals a true cash value (TCV) of $773,022. The 2025 assessment value was also not protested at the 2025 March Board of Review (MBOR). Based on the reconciliation of the 2024 and 2025 sales comparison and cost approaches, the estimated market and true cash value of the subject property is $697,000 for 2024 and $718,600. After the reconciliation of these approaches, White Lake Township believes the 2024 and 2025 sales comparison approach best reflects the most probable sale price of the Subject. White Lake Township believes the 2024 tax values should be calculated using the TCV of $697,000, which results in a reduced assessed value of $348,500 and an unchanged taxable value of $318,620. White Lake Township also believe the 2025 tax values should be calculated using the TCV $718,600, which results in a reduced assessed value of $359,300 and an unchanged taxable value of $328,490.