Setting Calculation Defaults

1. Select the Customize option in the Tools menu.

2. When Residential Estimator displays the Customization screens, click the Calculations tab.

3. Set the following on the Calculations customization screen:
   • Default Report Date: This is the date that Residential Estimator uses when calculating costs for all estimates (except those that have an individual report date set on the Cost Adjustments screen). The two options are:
     • Use the Cost Data Date: This option uses the date in the Marshall & Swift cost database as the default report date. Set this option if you typically want to calculate the costs for the reports using the currently installed data. If needed, you can set a different cost date for selected estimates using the Cost Adjustments screen (such as for appraisals involving a divorce or estate where the costs need to be as of a date in the past).

     • Use the Following Date: This option allows you to set the default report date. Set this option if you typically want to calculate the costs for reports using a fixed date (such as for assessment purposes).

   • Assessment Percentages: For each assessment percentage you set, Residential Estimator prints an additional line with the appropriate assessed value (calculated as the percentage times the total cost). The three available percentages are:
     • Overall Assessment (%): Calculates the assessed value as the total cost times the percentage.

     • Land Assessment (%): Calculates the land assessed value as the land value (or site value) times the percentage.

     • Building Assessment (%): Calculates the building assessed value as the total cost minus the land value (or site value) times the percentage.

     • Assessed Value Rounding ($): When you enter an assessed value rounding value, Residential Estimator prints an additional line in the report with the assessed value rounded to the value entered. If you entered more than one assessment percentage, Residential Estimator prints an additional line for each assessed value.

4. When you have completed the customization, close the Customization screens by clicking the OK button. Residential Estimator displays the message "Do you want to save the customization changes?" Click one of the following buttons in response to this: