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Consideration of request by the Assessor's Office to waive the competitive bidding process, transfer funds and enter into a contract for expert assistance in the valuation of complex property up to $60,000
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Submitted by:
Sarah Tyrrell
Department:
Assessor's Office
A. Issue
In 2025, the Wauwatosa Assessor's office will be completing a city-wide revaluation. This process involves thoroughly reviewing all property assessments. The real estate landscape of Wauwatosa includes complex and unique properties. These distinctive properties can be challenging to value due to the lack of comparable properties and a market for such property types.
B. Background/Options
Wauwatosa has some very complex and unique properties within its jurisdiction. Many times the valuation of these properties can lead to assessment appeals and litigation. The Assessor's office is requesting the assistance of an expert for certain properties. This request comes as a proactive measure for current and future litigation strategies.
The Assessor has researched and spoken with numerous experts, but there has only been one company that we felt was experienced and knowledgeable enough for our specific needs.
The Assessor's office intends to enter into a contract with a nationally recognized appraisal firm that will offer assistance in the valuation of specific properties. 2024 carryover funds will be utilized as well as a transfers from the Reserve for Contingencies fund for the amount needed.
We feel it is likely that this valuation could result in litigation against the City in the future, so we can only provide limited detail in public. If the committee desires more specific information on this appraisal, we can discuss this topic in further detail with the City Attorney in closed session.
C. Fiscal Impact
Approximately $8,000 in department carryover funds will be utilized. Additional funds of approximately $52,000 will be transferred from the Reserve for Contingency fund to cover the r...
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