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” <br />And while ORS 195.305(1) specifies that the regulation must “restrict the residential useit is <br />use <br />clear that the residential was in no way whatsoever affected by any 2014 code <br />amendments. <br />B)use <br />. Despite lacking a sound argument for the claimants having been restricted in the of <br />their property the claim proceeds to provide appraisals of very questionable value and in an <br />unacceptable manner. <br />A group of appraisals was entered into the record and when the group didn't meet the <br />requirement for having been done one year before and one year after code changes the dates on <br />all the appraisals were simply changed and resubmitted. The results were appraisals for any <br />new dates but no changes in value <br />number of properties that were identical two years apart – . <br />This is absolutely not credible. Of course, reentering the same appraised value with a new date <br />without an explanation should have immediately raised a red flag for staff. <br />Beside the fact that none of the comparables were large properties with small residential units, <br />many of the comparables were peculiar, if not wrong choices in other ways such as the location <br />in an R3 zone for one and location outside the UGB (and in the Springfield school district!) for <br />another. No appraisal was included for a very similar neighboring property which did sell in <br />th <br />the years under consideration (1781 E. 30 Ave). <br />That said, a convincing argument could have been made if the claim had provided an equal <br />insideoutside <br />number of (similar) comps the area specific neighborhood and the same area <br />and then shown that over the two-year period those outside the area had increased in value and <br />those within had either remained the same or decreased. Given the so-called evidence <br />provided, this claim completely fails to support the argument for loss of value due to area <br />specific code amendment 9.2751(17)(c)9. <br />A complete analysis of residential property values would also be expected to look at all factors <br />market trends <br />at play in the real estate market.Failure to take into account the many at play <br />would alone invalidate any conclusion as to what caused fluctuations in a property's appraised <br />value. <br />It is also highly unusual to base the claimants' pre and post property values on hypothetical <br />primary residences and hypothetical SDU's. Common practice would assume values based on <br />existing structures. According to ORS 195.332 “The fair market value of property does not <br />include any prospective value or possible value based upon future expenditures and <br />improvements.” Therefore, a set of appraisals dependent on the use of several hypotheticals <br />would be rendered invalid. <br />City Councilors should insist at minimum on an independent appraisal review. <br /> <br />