The selected contractor will perform a comprehensive revaluation of all commercial properties, including physical audits, updates to property schedules, and the application of current market data to determine fair market value as outlined in OCGA 48-5-2(3). The project will include the following tasks: 1. Physical Audits: o A "walk around" audit of each commercial property will be conducted to verify property descriptions, dimensions, condition, depreciation of improvements, and grade. Photographs will be taken of the front and back of the main improvement and front photographs of all accessory improvements. o Non-returned improvements (those not recorded or declared) will be identified, documented, and reported to the County for further review. o A "drive-by" audit will also be conducted to verify the condition, grade, and depreciation of improvements, with photographs of the front of the main improvement where accessible. No measurements will be taken on existing structures during the drive-by audit. 2. Data Updates and Market Valuation: o All Real Property Schedules (approved by the County) will be updated to reflect current market data, which will be applied to generate fair market value for each commercial property in accordance with Georgia Department of Revenue guidelines. o All appraisals will comply with the Georgia Department of Revenue’s Appraisal Procedure Manual (560-11-10). o The revaluation will ensure that each property is accurately assessed based on the most recent market data and proper valuation methodologies...
