Wyoming Administrative Code
Agency 211 - Equalization, Board of
Sub-Agency 0001 - General Agency, Board or Commission Rules
Chapter 6 - STATEMENTS OF CONSIDERATION
Section 6-6 - County Assessor Responsibilities - Data Input
Universal Citation: WY Code of Rules 6-6
Current through September 21, 2024
(a) Every sale that is not exempt shall be entered into CAMA.
(b) The source of the verification of the sales information on the SOC shall be identified at a minimum in CAMA as:
(i)
Confirmed with the buyer;
(ii)
Confirmed with the seller;
(iii)
Confirmed with the agent; or
(iv)
Information on the SOC was deemed accurate and was not confirmed.
(c) All sales shall be identified as valid or invalid.
(d) Invalid sales shall be identified by the most appropriate "reason to exclude" as follows:
(i) The sale involves additional parcels,
trades or common property, including:
(A)
Additional parcels (where two or more parcels are sold and the value of the
individual parcels cannot be ascertained);
(B) Trades (where the value of the traded
properties cannot be ascertained); or
(C) Incomplete or unbuilt common property, if
the sale suggests the price is influenced by promises to complete common elements
at some later date.
(ii)
The sale was not exposed to the open market, or the marketing time for the
property could not be considered normal.
(iii) The physical characteristics of the
property have changed or are incorrect:
(A) The
physical characteristics (which influence value) changed after the sale;
or
(B) The property characteristics
(which influence value) do not match the characteristics of the property on
January 1 of the assessment year.
(iv) A sale between related individuals or
corporate affiliates.
(v) A
liquidation or forced sale including:
(A) Sales
involving courts, government agencies and public utilities, if such sales suggest
an element of compulsion or a desire to convey surplus property;
(B) Sales in which a financial institution as a
lienholder is the buyer, unless invalidating such sales results in an inadequate
sample, or if such sales constitute a major portion of the market (as in
depressed areas). If such sales are used, adjustments shall be considered for any
differences in price from conventionally financed sales;
(C) Sales settling an estate, if the sales
suggest an element of compulsion (such as satisfying the decedent's
debts);
(D) Forced sales, including
those resulting from a judicial order where the seller is usually a sheriff,
receiver or other court officer; or
(E) Transfers between former spouses as part of
a divorce proceeding.
(vi)
The sale involved abnormal financing, land contracts, or was a sale of
convenience, of doubtful title, or of partial interests, such as:
(A) Sales involving abnormal financing (such as
terms which are not normal in the market and cannot be adjusted to reflect
current market);
(B) Sales involving
land contracts, unless sufficient information is available for reasonable
adjustments for time and financing;
(C) Sales of convenience, which may be intended
to correct defects in a title or serve some similar purpose;
(D) Sales of doubtful title; or
(E) Sales involving partial interests, unless
it may be reasonably assumed from several concurrent sales that the sum of the
partial interests fairly indicates the sale price of the total
property.
(vii) The sale
involved excessive personal property, or any other situation that makes the sale
not an "arm's-length" transaction, and for which supporting documentation is
developed. Other situations may include:
(A)
When objective circumstances suggest either the buyer or seller or both were not
well informed;
(B) When data for the
sale is incomplete and unverifiable; or
(C) For sales involving charitable, religious
or educational institutions, if such sales suggest an element of philanthropy or
restrictive covenants.
(viii) The sale involved agricultural property
valued on productivity.
(ix) The sale
was not an "arm's- length" transaction. An explanation shall be made in the sales
notes.
Disclaimer: These regulations may not be the most recent version. Wyoming may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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