The Midland Central Appraisal District contracts with the firm Pritchard and Abbott Inc. for the valuation of commercial industrial real and personal property. The income approach, cost approach, and sales comparison approach is considered by the contractor in arriving at the final property value when sufficient data is available.
Review, Analysis and Verification of Contractor Services:
The Midland Central Appraisal District reviews and verified the appraisal work completed by valuation contractors. The current contract service is being provided by Prichard and Abbott Inc.
Our staff verifies the work of the contractor in various phases as listed below:
- During the discovery process, our staff compares the current accounts that are active and recently inactive. This information is forwarded to the contractor for updating.
- Renditions and exemption applications on contracted properties are scanned into MCAD’s CAMA program and sent to the contractor. In addition, any renditions or applications received by the contractor are sent to MCAD. Data is spot checked by district staff to assure proper application.
- As the contractor completes its appraisal, the MCAD staff inputs the data into the CAMA system checking for any discrepancies. The contractor’s owner number is maintained for reference.
- Communication via telephone, email, and fax is utilized to update all account records as needed. Meetings with MCAD staff and contract personnel are conducted to assure proper appraisal standards and methods have been utilized.
- The appraisal district maintains records and documentation for the verification process.
- The appraisal district verifies that all mail-outs including the Notice of Appraised Value, protest notices, and ARB schedule dates, are accurate and comply with the Texas Property Tax Code.
- Mineral accounts are reviewed and compared with data from prior year. The appraisal district receives and reviews information from the contractor regarding how their values and estimates are made.