Executive Summary This property report is for the purpose of determining whether the client property should be recommended proceed to the ARB (Assessment Review Board). The function of this report is to determine six comparable properties based on the characteristics of the subject property. These six comparable properties and the subject property will be compared both visually and statistically. Our comparison will take into account the difference between the comparable properties sale price and there assessed value. Based on the difference we will then calculate the subject properties assessed value. It will then be recommended to the client whether or not to proceed to review and the amount of the suggested assessed value. The subject property will be identified by the letters D-F and no address will be specified. Subject property D-F had the following characteristics that were given: Price: $300,000, Assessed Value: $378,000, MBMANCLS: 90, Age: 21 years, Bedrooms: 3, Living Area: 1743 ft.², Frontage (Width): 70 feet, Depth: 118 feet. Report The comparable database consisted of 260 properties based on sale statistics from the City of Edmonton. It is assumed that all the data in the database is correct and without error. Additional information in the database included variables such as bathrooms, fireplaces, neighbourhood, original assessment-to-sale ratio, cost ASR, market value and market ASR. This information was not available for the subject property and thus not included in the search refinements and comparable characteristics for the subject property D-F. The lot size of the subject property was not given, and therefore had to be calculated by multiplying the width times the depth of the property: Lost Size = 8260 ft.². The original ASR which is calculated by taking the assessed value divided by the sale price, was also calculated to be, 126%. The cost value, cost ASR, market value and market ASR were not determined. 1 Several different sorts by property characteristics were conducted. Each advanced sort had its own unique combination of property characteristics. These sorts were performed in order to be acquainted with the possible comparable properties. Three different sorts provided set of 12 properties. Several properties appeared in two or more sorts. A review by the appraiser showed that these comparable properties were still not sufficient enough in their characteristics to be used as the final comparables. A further process of filtering the database by the property characteristics and their corresponding values helped produce a list of eight comparables. The property characteristics parameters that were used to filter are as follows: Living Area: 1500 to 1900 ft.² Width: 60 to 80 feet Age: 13 to 23 years Bedrooms: 3 Manual Class: 90 Lot Size: 7760 ft.² to 8760 ft.² A list of six comparable properties that we believe are representative of the subject property were determined. Several mean values were calculated along with the mean original ASR. The mean ASR (85.015) and the largest ASR of Comparable #1 (90.94) were used to calculate the range of the new adjusted assessed value. The new adjusted assessed value range $255,045-$272,820 is considerably lower than the current assessed value of $378,000. A difference in the range of $122,995-$105,180. It is the recommendation of this report that the client continue on to assessment review at the ARB. We are confident that we have supplied valid statistical information in order to support the lowering of the clients assessed value by the ARB. 2