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<br />44 <br /> <br />Legal description <br /> <br /> <br />Property address <br /> <br /> <br />Assessed valuation Jf structure <br /> <br /> <br />All st,^ucture values from the County Assessor's records <br /> <br /> <br />were divided by 0.3 ':0 yield the market value because <br /> <br /> <br />property under Colorado law is assessed at 30 of actual <br /> <br /> <br />value. This technique is only valid if the assessments <br /> <br /> <br />realistically reflect market conditions. <br /> <br /> <br />2. Content Data - Residential <br /> <br /> <br />In Colorado personal property is no longer assessed, <br /> <br /> <br />and good sources of data on value of contents OX residen- <br /> <br /> <br />tial units do not exist locally. The cost of developing <br /> <br /> <br />contents cost data by survey of individual units is not <br /> <br /> <br />warranted. Instead, a factor of 50 of the structure <br /> <br /> <br />value is used. This factor corresponds to practices <br /> <br /> <br />within the insurance industry and represents a reasonable <br /> <br /> <br />estimate considering the accuracy of the data. Conservatism <br /> <br /> <br />will sometimes suggest a 10"ler fiqure. <br /> <br /> <br />3. Content and Inventory Data - Commercial <br /> <br /> <br />In the Little Dry Creek Basin two major commercial <br /> <br /> <br />areas exist in portions of the flood plain. Coun:y <br /> <br /> <br />Assessor data as to the value of contents and inventory <br /> <br /> <br />exist but are not a matter of public record. To utilize <br /> <br /> <br />this data while observ'ng the rights of privacy, the <br /> <br /> <br />County Assessor's office took a random sample of contents <br /> <br /> <br />and inventory value. This sample was used as an average <br /> <br /> <br />value of contents and inventory per commercial outlet. <br />