Jessie's Column
The first step in the data collection process is to ____ _____ _____.
Locate the parcel
The assessment rate for commercial properties is:
25%
This LBCS code describes the economic function or enterprise using the land and is a required entry at the property level:
Function
At a minimum, a commercial parcel needs to be visited once every _____ years.
Exterior walls, HVAC, elevators, and sprinklers are examples of ______ that depreciate with the structure they are attached to.
Components
What are two examples of subjective property characteristics?
Rank, physical condition, functional utility, occupancy
What are two examples of objective property characteristics?
Wall height, area, perimeter, year built
This construction class is very common in commercial construction and is characterized by masonry or reinforced concrete:
Class C: Steel Frame or Masonry Bearing Walls
The period over time in which an improvement will contribute to the property value in a positive way is the ____ life.
Economic
(Double Points) Name two types of occupancies that requires the use of the ‘number of units’ entry:
Apartments, hotel/motel, hospital, car wash, mini warehouse, etc.
What composite rating considers the overall quality, workmanship, and materials of a commercial building?
Rank
Name at least one reason why a building should be sectioned out:
Occupancy, year-built, wall height, physical condition, assessment class, rank, income use, construction class, functional utility, area per floor
What are the three types of depreciation?
Physical, functional, economic
(Double Points) Which two component codes are a required entry in Orion?
Exterior walls and HVAC
This LBCS code describes the overall design and utility of each structure or building on a parcel and is a required entry at the building/section level:
Structure
Name one reason a data collector would be visiting a parcel:
17% reinspection, building permit, sales verification, field check
This LBCS code refers to the actual land use based on its observable characteristics:
Activity
The Property Class Field identifies the actual ____ _____ _____ of the parcel.
Present Day Use
This construction class is characterized by heavy masonry and timber construction and are common in older industrial districts:
Class M: Mill Type Construction
This code identifies the use of the building or section as it was originally designed:
Occupancy
This code refers to the grade or quality of the property as an investment and is used in the income approach for commercial properties:
Investment Class
Which two component codes can be added to a basement?
HVAC and sprinklers
What are the five LBCS elements used in Orion?
Function, activity, ownership, site and structure
Property characteristic descriptions can be categorized in three ways, which are:
Continuous, Discrete, and Dichotomous
This construction class is characterized by combustible closely spaced wood or steel studs and is often referred to as residential-type construction:
Class D: Wood or Steel Framed Exterior Walls