Commercial Appraiser III

Douglas County, CO•Castle Rock, CO

37d•Onsite

About The Position

Douglas County is hiring a Commercial Appraiser III. This position is expected to possess significant, independent and direct experience in the valuation of complex real property such improved commercial and industrial real estate, including a comprehensive knowledge of the three approaches to value. The role involves completing field inspections, measurements, property data collection, and sketches for commercial and industrial properties, monitoring project progress, applying Cost, Market, and Income models, and reconciling property values. The appraiser will also handle vacant land valuations, participate in appeal hearings as an expert witness, conduct sales verification, and provide education to property owners regarding assessment processes.

Requirements

A bachelor’s degree from an accredited university in a field related to real estate, such as business, finance, accounting, real estate, planning, engineering, construction, architecture, or a related field.
Has completed the minimum education requirements set forth by the State of Colorado for an Ad Valorem Appraiser license.
Four or more years of professional appraisal experience in private and/or public sector, including ad valorem experience, and advanced knowledge of real estate principles, procedures and markets.
Direct experience with multiple reassessment cycles in the mass appraisal of complex real property with an assessment jurisdiction, including the comprehensive application of the three approaches to value in single property valuation and mass appraisal situations, with demonstrated ability to apply: correct cost approach methodologies and depreciation theory, a comprehensive sales comparison approach using sound sales verification and data supported adjustment techniques, industry and regulatory prescribed income approach methods to analyze income and expense data.
Knowledge of building design, engineering, construction materials and methods.
Expertise in the Sales Comparison, Cost and Income Approaches to value, as well as the ability to apply this knowledge in advanced analysis techniques and when composing valuation summaries and/or appraisal reports for purposes of property appeals on complex property.
Working knowledge of the Microsoft Office Suite including the ability to apply advanced techniques in spreadsheet, database and word processing applications.
Advanced ability to work with, manage and analyze data is required.
Ability to correctly and efficiently produce Apex sketch files on complex real property.
General but intermediate or better understanding of computer software and technology, including Computer Assisted Mass Appraisal applications, file management, internet, email use, networking, smartphones and other mobile devices, database and spreadsheet applications, HP12C or equivalent, as well as other technology generally used by the real estate industry.
Able to understand, interpret and analyze balance sheets, profit/loss statements and cash flow reports, rent rolls, income and expense statements, and other financial documents related to realty.
Must possess a valid Colorado Driver’s License upon hire, with complying insurance.
An Ad Valorem Appraisal License, or comparable, is required.

Nice To Haves

Completion of appraisal qualifying education (QE) required for the Certified General Appraisal License.
Possession of a Certified General Appraisal License.

Responsibilities

Completes field inspections, measurements, property data collection, and sketches for commercial and industrial properties, including both the physical inspection and blueprint review of a project.
Monitors project progress and percentage of completion, including core and shell construction and tenant finish.
Identifies all characteristics per Marshall Valuation manual, applies Cost, Market and Income models, and reconciles property value.
Completes field work and input for commercial and industrial vacant land.
Conducts field inspections for identifying subdivision infrastructure, agricultural use, and land attributes.
Maintains existing land valuation models, recognizes the need for new models, and creates them according to appropriate stratification.
Applies appropriate subdivision discounting methodology annually per Division of Property Taxation (DPT) guidelines.
Participates in County Board of Equalization hearings; completes Value Data Summaries for submission, utilizing the three approaches to value, for CBOE appeals and Abatements.
Completes Assessor Protest appeal assignments during annual appeal season, including responding to inquiries, analyzing applied valuation models and interpreting petitioner submissions such as operating statements, comparable sales and other information.
Acts as an expert witness in the defense and support of such appeals including Abatements, Boards of Assessment Appeals, Arbitrations, and District Court cases.
Works closely with the Appeals Administrator, Commercial Appraisal Supervisor, Assessor Administration, and County Attorney’s Office during the appeals process.
Composes USPAP compliant Standard 1 Appraisal Reports in preparation of litigation for certain high-level appeals.
Acts as an advisor to these same parties as to the final disposition of appeals.
Completes sales verification including Costar review; research with buyers, sellers, brokers and other market participants; performs field reviews, sale validation and input into the Assessor’s Computer Assisted Mass Appraisal (CAMA) system and spreadsheets.
Conducts property reviews for omitted and incorrect information, quality control reports and classification concerns.
Work may include in-person and telephone interaction with property owners and their agents.
Provides education and information to property owners regarding statutory requirements, state regulations and assessment processes.
Applies appropriate procedures and methodologies for the Income approach to value for each type of property: Collects property specific data on rental rates, vacancy, and expenses.
Conducts a complete research of the market and calculates appropriate capitalization rates.
Applies income, expense and cap rate information in CAMA system to calculate income approach value.
Analyzes valuation information from the three approaches to value and concludes an understandable and sound opinion of value.
Generates and reviews quality assurance reports within CAMA system “canned” reports.
Utilizes all available tools such as CAMA software, Excel, Pictometry, GIS, CoStar, and MLS to perform quality control on property characteristics and develop values.
Researches and analyzes complex appraisal topics as they pertain to the valuation of commercial properties.
Analyzes property sales and income and expense information extracted from the market and derives models by property type, age, location and class.
Performs other duties as assigned.