Property Record Cards Sample Clauses
The Property Record Cards clause establishes the requirement for maintaining detailed records of a property's characteristics, ownership, and assessed value. Typically, these cards are kept by local government assessors and include information such as property dimensions, improvements, and historical assessment data. This clause ensures that accurate and up-to-date property information is available for taxation, dispute resolution, and public reference, thereby promoting transparency and consistency in property assessment and management.
Property Record Cards. 3.2.1 Contractor shall prepare an individual property record card, for each separate parcel of property in Municipality arranged to show:
(1) The owner’s name, street number, map and lot number or other designation of the property;
(2) The owner’s mailing address;
(3) Information necessary to derive and understand:
(a) The land value;
(b) The number of acres of the parcel;
(c) The land classification;
(d) The adjustments made to land values;
(e) The value of the improvements on the land;
(f) The accurate description of all improvements whether affecting market value or not;
(g) The improvement pricing details; and,
(h) The allowances made for physical, functional and economic depreciation factors;
(4) The outline sketch of all principal improvements with dimensions with the street side or waterfront toward the bottom of the diagram;
(5) The base valuation year;
(6) The print date of property record card;
(7) Photograph of the principal building;
(8) History of the property transfer to include:
(a) Date of sale;
(b) Consideration amount;
(c) Qualification code; and,
(d) Property type noted as either vacant or improved;
(9) A notation area to record any comments pertaining to the property; and,
(10) A notation area to record the history of the property, which may include, but not be limited to:
(a) Property inspection date;
(b) Individual’s identification number or initials associated with the inspection;
(c) The extent of the inspection;
(d) Reason for the inspection; and,
(e) Any value adjustment(s),
Property Record Cards. The firm shall include real property identification material on properly labeled individual property record cards similar in form and content to those illustrated in the Real Property Appraisal Manual. Distinct property record cards for each of the four classifications of real property shall be provided both in hard paper copy and in electronic data format in the software program or programs used or to be used by the Assessor and approved by the County Board of Taxation.
Property Record Cards. 3.2.1 Contractor shall prepare an individual property record card, for each separate parcel of property in Municipality arranged to show:
(1) The owner’s name, street number, map and lot number or other designation of the property;
(2) The owner’s mailing address;
(3) Information necessary to derive and understand:
a. The land value;
b. The number of acres of the parcel;
c. The land classification;
d. The adjustments made to land values;
e. The value of the improvements on the land;
f. The accurate description of all improvements whether affecting market value or not;
g. The improvement pricing details; and,
h. The allowances made for physical, functional and economic depreciation factors;
(4) The outline sketch of all principal improvements with dimensions with the street side or waterfront toward the bottom of the diagram;
(5) The base valuation year;
(6) The print date of property record card;
(7) Photograph of the principal building;
(8) History of the property transfer to include:
a. Date of sale;
b. Consideration amount;
c. Qualification code; and,
d. Property type noted as either vacant or improved;
(9) A notation area to record any comments pertaining to the property; and,
(10) A notation area to record the history of the property, which may include, but not be limited to:
a. Property inspection date;
b. Individual’s identification number or initials associated with the inspection;
c. The extent of the inspection;
d. Reason for the inspection; and,
e. Any value adjustment(s).
Property Record Cards. 3.6.1 The Company shall prepare property record cards 8-1/2 x 11 inches for each separate parcel of property in the municipality. Sales information is detailed on the front of the card to the right of owner information and includes grantor, date of sale, and consideration amount, qualification code and indicator of whether improved (I) or vacant (V).
3.6.2 The cards shall be arranged based on the Town’s CAMA system design, as to show the owner’s name, street number, or other designation of the property and the mailing address of the owner, together with the necessary information for determining land value, the number of acres of the parcel, the land classification, any adjustments made to the land values and the value of the improvements to the land.
3.6.3 The card shall be so arranged as to show descriptive information of the buildings, pricing detail, depreciation allowed for physical, functional and economic factors and an outline sketch of all principal buildings in the parcel. The property record cards shall be provided in map, lot and sublot sequence and will detail the base valuation year and the print date of the property record card.
3.6.4 Any coding used by the Company on the property record card will be clearly explained elsewhere on the card or in the USPAP report.
3.6.5 The initial’s of the Company’s employee who measured and/or listed the property shall be noted on each property record card, along with 3rd and 4th characters that describe the reason for the visit and what was done, ie, M=measured, L=measured & listed. A detailed explanation of these codes is outlined in the USPAP report.