Many appraisal districts across the country will re-start the appraisal process on all properties in their respective locations at the start of the new year.
A vast majority of these appraisers are trained to value the most common property types in their jurisdictions such as office, multi-family, retail, etc.; however, the seniors living valuation methodologies are not part of the appraisal district’s strong suit.
Inaccurate property valuations result when districts are unfamiliar with the senior housing market overall. The more services offered at these facilities unrelated to real estate often yields a larger difference in valuation techniques.