Course Materials - Vermont Data... · Advanced Data Collection Course Materials Cy Bailey, District Advisor, PVR ... Living roofs – partially or ... Case Study 1) Winterplace Condo

Advanced Data Collection

Course Materials

Cy Bailey, District Advisor, PVR Chris Landin, District Advisor, PVR

September 2018

Version 1-c Advanced Data Collection Property Valuation 9/2018 Page 2 & Review

I. INTRODUCTION A. Instructors and Students

B. Course Hours and Schedule

C. Phone and Break Policy

D. What You Can Expect from This Course

1. Familiarize the Lister/Assessor / Data collector with gathering

information regarding Conservation easements, land valuation, net zero

dwellings and exceptional homes and special projects (Case Study?)


II. ASKING THE RIGHT QUESTIONS A) Interviewing Property owners –

You will ask about the property or their agents about the negative and positive qualities of land.

1) Attributes of Land

a) Utility b) Road c) Access d) Topography e) View f) Drainage g) Sugar-bush h) Septic i) Other

2) Zoning – always refer to zoning in the absence of zoning refer to town plan

3) Locating vacant parcels – the following may be used to identifying the

location of vacant lots a) Utility Pole Number b) Geographic features c) Bridges d) Culverts e) GPS

4) Land

a) Easements – i. Right of Way (ROW)

ii. Road (Public / Highway) iii. Water iv. Septic v. Mineral

vi. Vehicular


vii. Agricultural viii. Flowage

ix. Utility x. Deed Restrictions / Protective Covenants

xi. Conservation Easements

Conservation Easements - Essential Resources for Valuing Property Subject to a Conservation Easement:

Property Transfer Tax Return – Located in your town records, the return

will inform you of a transfer of development rights in Box G.

Conservation Easement Agreement – This should be on file in your town records. We advise that you focus your attention on the “purpose,” “restricted uses,” and “retained rights” sections to understand how particular easement may affect property valuation.

Database of Sales – Land trusts and agencies that hold conservation easements typically keep a database of sales of properties subject to conservation easements. This information can be crucial when conducting a sales comparison.

Conservation Easement Map – A conservation easement map may be available from the land trust or agency that holds the easement. It is helpful for locating special protections on the property, excluded parcels, and other special zones where limited development may be permitted. Additionally, a baseline report is a much more detailed and long document that the holder may be willing to provide if you want significantly more information. (Note that the conservation easement itself has the essential information you need, a BASELINE REPORT is optional.)

Type of Conservation Easements Traditional and OPAV OPAV (Option to Purchase at Agricultural Value) is a voluntary legal agreement that restricts the sale of land to only certain farmers or to family members, and restricts the sale price to agricultural value (versus the higher fair market value).


An OPAV is placed when the landowner sells or donates an OPAV to a land trust or government agency. Once land has an OPAV, its value is usually lowered (because the land no longer able to be sold to all willing buyers and must be sold for agricultural value). This decreased value can make land with an OPAV more affordable for buyers, including farmers who may want to purchase the land. Traditional typically does not limit who the conserved land is sold to or for how much.

b) What to Look Out For i. Common provisions within conservation easements include:

ii. Exclusions from the easement, such as housesites and farmsteads.

iii. Dwelling rights. iv. Farm labor housing rights; these can be standard or at the sole

discretion of the land trust or agency. v. Subdivision rights.

vi. Public access trails. vii. Archeological protection. viii. Surface water protection.

ix. Riparian buffer zones. x. Special treatment areas, such as a restriction that woodland

shall never be converted to agricultural land. xi. Gravel extraction sites.

xii. Option to purchase at agricultural value. xiii. A right of first refusal, which gives the land trust or agency the

right to match any offer to purchase the property. xiv. Historic resource protection. xv. Façade easements that place design and construction

restrictions on the exterior of a building.

Contact Info:

Vermont Land Trust 8 Bailey Ave, Montpelier, VT 05602 Phone: (802) 223-5234

http://farmlandaccess.org/federal-government-programs-supporint-farming/land-trusts/

https://www.google.com/search?q=vermont+land+trust+phone&sa=X&ved=0ahUKEwiC5PuiwpDWAhUB4iYKHf1fD38Q6BMIiwEwEg


B) Energy Efficient Dwellings – 1) Net Zero -

a) Solar - Solar arrays less than 50 kW are exempt from taxation. However, data regarding the residential array should always be collected to assist in determining it value for sales analysis or exemption purposes particularly when the value of the array is included in the sale price.

b) Solar plants that are not exempt from municipal property tax must be valued. Vermont law requires a solar plant to be valued using the discounted cash flow method as described in 32 V.S.A. § 3481(1)(D). Form PV-604, Vermont Photovoltaic (PV) System Inventory Form is a document used by municipalities to record property information.

c) For instructions on Valuing Solar

http://tax.vermont.gov/sites/tax/files/documents/2017%20pv_instructions_solar.pdf

https://legislature.vermont.gov/statutes/section/32/121/03481

http://tax.vermont.gov/sites/tax/files/documents/PV-604.pdf




d) Geothermal – A geothermal heat pump or ground source heat pump

(GSHP) is a central heating and/or cooling system that transfers heat to or from the ground. It uses the earth as a heat source (in the winter) or a heat sink (in the summer.

e) Air Exchangers - Trade or exhaust stale inside air in exchange for fresh outside air plus the exchanger equalizes pressure inside a super insulated dwelling.

f) Heat Pumps – Like a refrigerator, heat pumps use electricity to move heat from a cool space to a warm space, making the cool space cooler and the warm space warmer. During the heating season, heat pumps move heat from the cool outdoors into your warm house and during the cooling season, heat pumps move heat from your cool house into the warm outdoors. Because they move heat rather than generate heat, heat pumps can provide equivalent space conditioning at as little as one quarter of the cost of operating conventional heating or cooling appliances. There are three types of heat pumps: air-to-air, water source, and geothermal.

g) Foam Insulation – Two common types open cell and closed cell. Closed cell is common in Vermont and has an approximate R Value of 6.5 per inch. Open cell has an approximate R Value of 3.6 per inch.

h) LED Lighting - Light emitting diodes

i) Reflective Roofing - Reflective material to reduce UV light damage and reduce roof temp

j) Living roofs – partially or completely covered with vegetation


III. PRACTICUM

A) Case Study 1) Winterplace Condo

a) Sale #1 Q104 3-BR SP $303,000 Sale Date 6/2017 b) Sale #2 N202 3-BR SP $326,000 Sale Date 4/2017 c) Sale #3 E302 3-BR SP $366,750 Sale Date 3/2017 d) Sale #3 K306 3-BR SP $_______ Sale Date 4/2017 e) Listing A202 2-BR LP $_______ Listing Date 6/2017

When first sold the difference was $25,000.

What data do the Assessors / Listers need now?


IV. High Quality / Exceptional Homes Examples 12.03.12-12

12.03.12-5

12.03.12-10


12.03.12-8

07.02.07-5


07.02.07

07.02.07 Carriage house


12.01.27

What Quality Is This? 07.01.16.002


07.01.06-002


A) High Quality / Exceptional Homes Features –

1. Exterior Features a) Design Features b) Additional Living Units c) Pool, Spas, & Water Features d) Outside Kitchens/Grills e) Patios, Decks, & Outdoors Living Spaces f) Landscaping & Water Features

2. Interior Features

a) Quality Stairs b) Upgraded Fireplaces c) Home Offices d) Upgraded Kitchens e) Chef’s Pantry f) Upgraded Bedrooms, Closets, & Bathrooms g) Home Gyms & Saunas h) Media Rooms /Theaters i) Recreation Rooms, Wet Bar, & Wine Cellars j) Complex Mechanical Management


Handouts/Notes: __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Documents

Course Materials - Vermont Data... · Advanced Data Collection Course Materials Cy Bailey, District Advisor, PVR ... Living roofs – partially or ... Case Study 1) Winterplace Condo