Single-family residential properties are valued using mass appraisal models and methods that use sales of all comparable properties to the subject property. During the market appeal of a property, the appraisal district will use the most similar properties available, close in age, size, and attributes, and compare only those using a sales comparison grid. This ‘Sales Comparison Approach is similar to that that a fee appraiser would use to appraise a property for banks and mortgage companies for financing. In any comparison, appropriate adjustments are required prior to comparing the subject to each one. The goal of adjustments is to adjust the sales price of the comparable sale to make it most like the subject as if it sold on January 1 of the current tax year.
The example of the sales comparison grid on the following page is presented to assist property owners as they prepare for informal meetings with TADBC appraisal staff and/or protest hearings before the Appraisal Review Board (ARB).
The sales price of each comparable is adjusted to the subject and the sum of positive and negative adjustments is shown in the grid as “Net Adjustments”. The net adjustment amount is then added to or subtracted from the sales price of that comparable, with the result of this calculation being the indicated value for each comparable used. “Subject’s Indicated Value” via the sales comparison approach. Typically, a sales comparison grid will include at least three comparable sales, sometimes more, and after the adjustment process there will be an indicated range of value shown at the bottom of the grid. The indicated value is then divided by the living area of the subject property to derive an indicated value per square foot of the subject property. The indicated value range and/or indicated value per square foot range is compared to the current market value appraisal of the subject property to determine if the current appraisal is reasonable and supported by comparable sales. The results are then listed in the Median Value per square foot and Median Value for the subject
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Prop ID |
Unique GCAD property identifier |
| GEO ID | Unique geographic identifier |
| Market Value | Appraised value of the property on the current Appraisal Roll |
| Confidential Sale | Indicates whether or not sale information was received under a confidential agreement |
| Sale Date | Date the comparable property sold |
| Sale Price | Actual reported sale price |
| Adj Sale Price | Sale price adjusted for time |
| Sale Price / SQFT | Sale price divided by the total square feet of living area |
| Land Value Adj | The value of the land and the amount the comparables were adjusted to make their land equal to the subject property’s land. |
| Land Acres | Total acres of land area. (1 acre = 43,560 square feet) |
| Land SQFT | Total square feet of land area. (43,560 square feet = 1 acre)
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| Class | Indicates the quality of construction. Class information can be found on GCAD website at RESIDENTIAL-CLASSES-GENERAL-INFORMATION-WEBSITE
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| Class Adj | Adjustments are made to the comparables for differences in quality and construction to make them like the subject property.
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| Living Area | Air-conditioned living area |
| Actual Year Built | The actual year construction was complete |
| Effective Year Built | Year built based on remaining economic life of the structure |
| % Good Adjustment | The percentage of useable life remaining compared to the overall life of the structure |
| Segments & Adj | Adjustments are made to the comparables for differences in contributory value of various property features to make them like the subject property. More information on Building Segments, Appendages and Outbuildings can be found on the GCAD website at APPENDAGE-OUTBUILDING-CLASSES-SHEE |
| Segment Adj Subtotal | Sum of Segment Adjustments (positive and negative) |
| Secondary PID Imp Adj | Adjustment made if the subject or comparable has multiple dwelling structures |
| Net Adjustment | The sum of all above adjustments. May be positive or negative. |
| Indicated Value | The Sale Price plus Net Adjustment |
| Indicated Value / SQFT | Indicated Value divided by Living Area |
| Mean Value | Average of the Indicated Values of all Comparable Properties. Indicates the most probable sale price of the Subject Property as of the Date of Appraisal. |
| Mean Value / SQFT | Mean Value divided by Living Area. |
| Situs | The physical address of the property. |
| Picture | A photo of the Subject or Comparable will appear here. |
