In early May, I spoke with the Bonner County Assessor who handles the Seasons valuations, Jerry Peterson, in an attempt to understand how the 2009 assessments are being calculated.  Here is what I have learned...

First off, the only sales that can be used as comps are the 2008 sales.  No sales from 2009 can be used.  In 2008, there were several sales that helped her establish a baseline range.  This baseline range is what she uses, for a first floor interior residence - no boat slip.  From there, there are premiums added for higher floors, corner locations, boat slips and penthouses.  There are just 2 or 3 residences that were actually given a discount for location and/or view corridors

The premium values that they are using, are based on the 2008 sales activity.  

• So, we know that there is a $50K premium for a boat slip.  
• To move from a first floor to a second floor residence, she applied a 5% premium (over the first floor).  
• The third floor of building 7 gets a similar 5% premium (over the first floor).  
• The fourth floor and corner residences of building 7 have a 15% premiums.  
• Finally, all of the penthouse residences (any 2 story home) were getting a 25% premium.

I feel pretty good about the math that they are using in this case.  It seems that the 2009 sales we have seen so far are tracking very close to this model.  Hopefully you will find your assessments consistent with this discussion.  

If you would like to speak with the assessors office personally, Jerry Peterson is the contact at 208-265-1440, extension 1210.

Thanks!  Chris.