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Assessment Question - What's the Special Condition Code ?

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  • Jerry Harris
    I was digging through my house s Property Record Card from the town and I ran into something called Special Condition Code and Percentage under the Cost/Market
    Message 1 of 2 , Nov 2, 2006
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      I was digging through my house's Property Record Card from the town and
      I ran into something called Special Condition Code and Percentage under
      the Cost/Market Valuation section. Does anyone know what this is? It's
      not mentioned in "The Assessment Computation for Single Family Homes in
      Lexington" document (price $7 ;^), but it seems to turn my 100+ year
      house's depreciation % from 81% to 131%! This is not market
      appreciation, but normal physical depreciation.

      Thanks for any help.
      Jerry
    • Jerry Harris
      I found the answer to my question. The code associated with the markup is MA, which stands for Market Adjustment, a catch-all category for your house has to
      Message 2 of 2 , Nov 3, 2006
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        I found the answer to my question. The code associated with the markup
        is MA, which stands for Market Adjustment, a catch-all category for
        "your house has to be worth more than this". ;^)

        Jerry

        Jerry Harris wrote:
        > I was digging through my house's Property Record Card from the town and
        > I ran into something called Special Condition Code and Percentage under
        > the Cost/Market Valuation section. Does anyone know what this is? It's
        > not mentioned in "The Assessment Computation for Single Family Homes in
        > Lexington" document (price $7 ;^), but it seems to turn my 100+ year
        > house's depreciation % from 81% to 131%! This is not market
        > appreciation, but normal physical depreciation.
        >
        > Thanks for any help.
        > Jerry
        >
        >
        >
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