HomeMy WebLinkAbout08-10-07 (3)
REV-l500 EX + (6-00)
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COMMONWEALTH OF
PENNSYLVANIA
DEPARTMENT OF REVENUE
DEPT. 280601
HARRISBURG, PA 17128-0601
REV-1500
INHERITANCE TAX RETURN
RESIDENT DECEDENT
OFFICIAL USE ONLY
FILE NUMBER
21 -0 7 0 5 9 2
COuNTYCODE -VEAA- - - NuMeER- -
DECEDENT'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
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BOWERS
DATE OF DEATH (MM-DD-Year)
DORIS
DATE OF BIRTH (MM-DD-Year)
J.
SOCIAL SECURITY NUMBER
1 95- 1 6 - 3 8 8 4
THIS RETURN MUST BE FILED IN DUPLICATE WITH THE
REGISTER OF WILLS
SOCIAL SECURITY NUMBER
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06/08/2007 10/09/1923
(IF APPLICABLE) SURVIVING SPOUSE'S NAME (LAST, FIRST, AND MIDDLE INITIAL)
D 3. Remainder Retum (date of death prior to 12-13-82)
D 5. Federal Estate Tax Retum Required
_ 8. Total Number of Safe Deposit Boxes
D 11. Election to tax under Sec. 9113(A) (Attach Sch 0)
[Xl 1. Original Retum
D 4. Limited Estate
[Xl 6. Decedent Died Testate (Attach copy of Will)
D 9. Litigation Proceeds Received
D 2. Supplemental Retum
D 4a. Future Interest Compromise (date of death after 12.12-82)
D 7. Decedent Maintained a Living Trust (Attach copy ofTrust)
D 10. Spousal Poverty Credit (date of death between 12.31.91 and 1-1-95)
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llfiSS6CT10N .w$Tse:toMflt.mO.ACL CORRESPONDENCE AND CONFIDENTIAL TAX INFORMATION SHOULD BE DIRECTED TO:
NAME COMPLETE MAILING ADDRESS
MARCUS A. McKNIGHT III 60 WEST POMFRET STREET
FIRM NAME (If Applicable)
IRWIN & McKNIGHT
TELEPHONE NUMBER
717 249-2353 CARLISLE PA 17013
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1. Real Estate (Schedule A) (1)
2. Stocks and Bonds (Schedule B) (2)
3. Closely Held Corporation, Partnership or Sole-Proprietorship (3)
4. Mortgages & Notes Receivable (Schedule D) (4)
5. Cash, Bank Deposits & Miscellaneous Personal Property (5)
(Schedule E)
6. Jointly Owned Property (Schedule F) (6)
D Separate Billing Requested
7. Inter-Vivos Transfers & Miscellaneous Non-Probate Property (7)
(Schedule G or L)
8. Total Gross Assets (total Lines 1-7)
9. Funeral Expenses & Administrative Costs (Schedule H) (9)
10. Debts of Decedent, Mortgage Liabilities, & Liens (Schedule I) (10)
11. Total Deductions (total Lines 9 & 10)
12. Net Value of Estate (Line 8 minus Line 11)
13. Charitable and Govemmental Bequests/See 9113 Trusts for which an election to tax has not been
made (Schedule J)
79,000.00
OFFICIAL USE ONLY
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0.00 X _(15) 0.00
80,691.69 X .045 (16) 3,631.13
0.00 X .12 (17) 0.00
0.00 X .15 (18) 0.00
(19) 3,631.13
14. Net Value Subject to Tax (Line 12 minus Line 13)
SEE INSTRUCTIONS ON REVERSE SIDE FOR APPLICABLE RATES
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15. Amount of Line 14 taxable at the spousal tax
rate, or transfers under Sec. 9116 (a)(1.2)
16. Amount of Line 14 taxable at lineal rate
17. Amount of Line 14 taxable at sibling rate
18. Amount of Line 14 taxable at collateral rate
19. Tax Due
20. D
CHECK HERE IF YOU ARE REQUESTING A REFUND OF AN OVERPAYMENT
(8)
93,783.69
10,843.26
2,248.74
(11)
(12)
(13)
13,092.00
80,691.69
(14)
80,691.69
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efliiALt'.QUESIf.0f'4S0fl4REVERSE SIDE AAb RECHECK MATH < <
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REV-1~EX'(.
SCHEDULE A
REAL ESTATE
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF FILE NUMBER
BOWERS DORIS J. 21 07 0592
All real property owned solely or as a tenant in common must be reported at fair market value. Fair market value is defined as the price at which property would be
exchanged between a willing buyer and a willing seller, neither being compelled to buy or sell, both having reasonable knowledge of the relevant facts.
Real Drooertv which is iointlv-owned with riaht of survivorshiD must be disclosed on Schedule F.
ITEM
NUMBER
1.
DESCRIPTION
5 BUCHANAN STREET, NEWVILLE, PENNSYLVANIA
APPRAISAL ATTACHED
VALUE AT DATE
OF DEATH
79,000.00
TOTAL (Also enter on line 1, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
79 000.00
REV-' "'!' EX + (&.
SCHEDULE E
CASH, BANK DEPOSITS, & MISC.
PERSONAL PROPERTY
FILE NUMBER
DORIS J. 21 07
Include the proceeds of litigation and the date the proceeds were received by the estate.
All property jointly-owned with right of survivorship must be disclosed on Schedule F.
0592
ITEM
NUMBER
1.
DESCRIPTION
VALUE AT DATE
OF DEATH
14,783.69
ADAMS COUNTY NATIONAL BANK
ESTEEM CHECKING ACCOUNT #192-753
TOTAL (Also enter on line 5, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
14 783.69
REV-1511 EX + (12-99)
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ITEM
NUMBER
A.
1.
2.
B.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
SCHEDULE H
FUNERAL EXPENSES &
ADMINISTRATIVE COSTS
FILE NUMBER
DORIS
J.
21
07
Debts of decedent must be reported on Schedule I.
DESCRIPTION
FUNERAL EXPENSES:
HOLLINGER FUNERAL HOME
CUMBERLAND VALLEY MEMORIAL GARDENS12.
ADMINISTRATIVE COSTS:
Personal Representative's Commissions
Name of Personal Representative (s)
Social Security Number(s)/EIN Number of Personal Representative(s)
Street Address
City
State
Zip
Year(s) Commission Paid:
AttomeyFees IRWIN & McKNIGHT
Family Exemption: (If decedenfs address is not the same as claimanfs, attach explanation)
Claimant DONALD B. BOW ERS
Street Address 5 BUCHANAN STREET
City NEWVILLE State PA
Relationship of Claimant to Decedent SON
Zip 17241
Probate Fees REGISTER OF WILLS
Accountanfs Fees
Tax Return Preparer'sFees PATRICIA A. ROSENDALE, CPA
REGISTER OF WILLS, FILING FEE
NOTARY FEES
CUMBERLAND LAW JOURNAL, ESTATE NOTICE
THE SENTINEL, ESTATE NOTICE
DIVERSIFIED APPRAISAL SERVICES, APPRAISAL ON REAL ESTATE
RECORDER OF DEEDS, FILING FEE
TOTAL (Also enter on line 9, Recapitulation) $
(If more space is needed, insert additional sheets of the same size)
0592
AMOUNT
635.12
5,500.00
3,500.00
248.00
350.00
30.00
15.00
75.00
150.64
300.00
39.50
10843.26
REV-151f EX + (6-98)
*'
SCHEDULE I
DEBTS OF DECEDENT,
MORTGAGE LIABILITIES & LIENS
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
BOWERS
DORIS
J.
Include unreimbursed medical expenses.
FILE NUMBER
21 07
0592
ITEM
NUMBER DESCRIPTION
1. EMBARQ, TELEPHONE
VALUE AT DATE
OF DEATH
38.56
2. ERIE INSURANCE GROUP, HOMEOWNERS INSURANCE
368.00
3. CARLISLE REGIONAL MEDICAL CENTER, MEDICAL
250.00
4. NEWVILLE COMM AMBULANCE
620.00
5. SHERRY L. HERSHEY, REAL ESTATE TAXES
867.57
6. NEWVILLE WATER & SEWER, UTILITY
104.61
TOTAL (Also enter on line 10, Recapitulation) $
2,248.74
(If more space is needed. insert additional sheets of the same size)
R>V""~.(.
COMMONWEALTH OF PENNSYLVANIA
INHERITANCE TAX RETURN
RESIDENT DECEDENT
ESTATE OF
SCHEDULE J
BENEFICIARIES
FILE NUMBER
)( )HIS J ?1 07 n&:;Q?
RELATIONSHIP TO DECEDENT AMOUNT OR SHARE
NUMBER NAME AND ADDRESS OF PERSON(S) RECEIVING PROPERTY Do Not List Trustee(s) OF ESTATE
I. TAXABLE DISTRIBUTIONS [include outriijht spousal distributions, and transfers under
Sec. 9116 (a (1.2)]
1. DONALD B. BOWERS Lineal 80,691.69
5 BUCHANAN STREET REAL ESTATE AND
NEWVILLE, PA 17241 1/2 REMAINDER
2. RICHARD C. BOWERS Lineal
18 TRINE AVENUE 1/2 REMAINDER
MT. HOLLY SPRINGS, PA 17065
ENTER DOLLAR AMOUNTS FOR DISTRIBUTIONS SHOWN ABOVE ON LINES 15 THROUGH 18, AS APPROPRIATE, ON REV.1500 COVER SHEET
n. NON. TAXABLE DISTRIBUTIONS:
A. SPOUSAL DISTRIBUTIONS UNDER SECTION 9113 FOR WHICH AN ELECTION TO TAX IS NOT BEING MADE
1.
B. CHARITABLE AND GOVERNMENTAL DISTRIBUTIONS
1.
TOTAL OF PART II - ENTER TOTAL NON. TAXABLE DISTRIBUTIONS ON LINE 13 OF REV-1500 COVER SHEET $
(If more space is needed, insert additional sheets of the same size)
REV-1500 Discount, Interest and Penalty Worksheet
Discount Calculation
Total Amount Paid within three calendar months of the decedent's date of death:
3.631.13
Discount
181.56
Interest Table
Year Days Delinquent Balance Due Interest
this time period this year this period
Before 1981
1982
1983
1984
1985
1986
1987
1988 throuah 1991
1992
1993 throuQh 1994
1995 throuah 1998
1999
2000
2001
2002
2003
2004
TOTALS
Penalty Calculation
If the decedent's date of death was on or before March 31, 1993, insert the applicable amount:
Total Balance Due on January 17,1996:
Penalty:
LAST WILL AND TESTAMENT
I DORIS J. BOWERS, of Newville, Cumberland County, Pennsylvania, declare this
instrument to be my Last Will and Testament, hereby expressly revoking all Wills and Codicils
heretofore made by me.
ONE: I direct my Executor to pay all of my debts, funeral and administrative expenses
as soon as may be done conveniently after my decease.
TWO: If at the time of my death, I own real estate situate at 5 Buchanan Street,
Newville, Pennsylvania, I specifically give, devise and bequeath that property to DONALD B.
BOWERS.
THREE: I gIve, devise, and bequeath all my personal belongings and household
contents to DONALD B. BOWERS.
FOUR: I give, devise, and bequeath all remainder my estate of every nature and
wherever situate to the following:
To DONALD B. BOWERS .........................................50%
To RICHARD C. BOWERS........................................50%
If one of those named above has predeceased me, then the share of said person will be
distributed to the remaining beneficiary named above.
FIVE: I appoint, DONALD B. BOWERS, to serve as Executor of this my Last Will. If
he has predeceased me or failed to qualify, or ceased to serve as Executor, I then appoint
MARCUS A. .McKNIGHT, III, ESQ, to serve as Executor in his place.
SIX: My Executor may, at his discretion, compromise claims, borrow money, retain
property for such length of time as he may deem proper; lease and sell property for such prices,
on such terms, at public or private sales, as he may deem proper; and invest estate property and
income without restriction to legal investments.
SEVEN: No Executor, Executrix acting hereunder shall be required to post
bond or enter security in this or any jurisdiction.
...
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 5 day of
February 20002.
"I.I'1~~'~
DORIS J. WERS
(SEAL)
Signed, sealed, published and declared by DORIS J. BOWERS, the above named
Testatrix, as and for her Last Will and Testament, in the presence of us, who, at her request and
in her presence and in the presence of each other have subscribed our names as witnesses hereto.
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ACKNOWLEDGl\'IENT A.ND AFFIDAVIT
WE, DORIS J. BOWERS, SHARON L. SCHWALM and ~IELA S. CORNMAN,
the testatrix and witnesses respectively, whose names are signed to the foregoing instrument,
being first duly sworn, do hereby declare to the undersigned authority that the testatrix signed
and executed the instrument as her last will and that she had signed willingly, and that she
executed it as her free and voluntary act for the purpose herein expressed, and that each of the
witnesses, in the presence and hearing of the testatrix, signed the will as a witness and that to the
best of their knowledge the testatrix was, at that time, eighteen years of age or older, of sound
mind and under no constraint or undue influence.
~,~
DORIS J. B6wERS
~~~~~
SHARON L. SCHWALM
~mw- c5. (~rrUVfl
KA ELA S. CORNMAN
COMMONWEAL TH OF PENNSYLVANIA
: SS:
COUNTY OF CUMBERLAND
Subscribed, sworn to and acknowledged before me by DORIS J. BOWERS, the testatrix herein,
and subscribed and sworn to b;4:~re me by SHARON L. SCHWALM and KAMELA S.
CORNMAN, witnesses, this 2.:- day of February, 2002.
I Notarial Seal
I Martha L. Noel, Notary ublic
I Carlisle Bora, Cumberlan ounty
i My Commission Expires Sept. a;-2003 I
Member, Per.nsviv?'flIC! ,A.ssociat!on at Notaries
APPRAISAL REPORT
S BUCHANNAN STREET
NEWVILLE, PENNSYLVANIA
PREPARED FOR
THE ESTATE OF DORIS J. BOWERS
BY
LARRY E. FOOTE
DIVERSIFIED APPRAISAL SERVICES
3S EAST ffiGHSTREET, SUITE 101
CARLISLE, PENNSYL VANIA
17013-3052
(717) 249-2758
COPY.
SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
LOCATION:
5 Buchannan Street
Newville, Pennsylvania
TAX PARCEL NUMBER:
28-21-0361-088
IMPROVEMENTS:
Two-story detached single-family dwelling.
PROPERTY RIGHTS:
Fee simple interest.
OWNERSHIP mSTORY:
The subject property is owned by Doris J. Bowers. The
property was transferred on January 22, 2002 for a
reporte~ consideration of $1.00 and ownership transferred
on Deed Book 250, Page 517.
SCOPE OF THE ASSIGNMENT: The scope of the assignment included an analysis of the
subject's are~ an inspection of the subject property, an
estimation of the property's highest and best use,
consideration of all three approaches to value, and the
application of those relevant to the valuation of the
subject.
OBJECTIVE:
To estimate the market value of the subject property as
unencumbered.
EFFECTIVE DATE:
June 8, 2007.
IDGHEST AND BEST USE:
COST APPROACH:
Continued use as a single-family residence.
N.A.
SALES APPROACH:
$79,000
N.A.
INCOME APPROACH:
FINAL VALUE CONCLUSION: $79,000
2
APPRAISAL CERTIFICATION
I hereby certifY that upon application for valuation by:
THE ESTATE OF DORIS J. BOWERS
the undersigned personally inspected the following described property:
All that certain piece or parcel of land, with the improvements thereon erected, situate
in the Borough of Newville, Cumberland County, Pennsylvania, bounded and described as
follows:
On the North by property now or formerly of George Loy; on the East by Buchannan
Street; on the South by property now or formerly of Samuel G. Lehner; and on the West by the
Old Springfield Road, now called Pennsylvania Avenue.
Containing 29 feet in front and 146 feet in depth, more or less.
To the best of my knowledge and belief the statements contained in this report are true
and correct, and that neither the employment to make this appraisal nor the compensation is
contingent upon the value reported, and that in my opinion the Market Value as of June 8, 2007
IS:
SEVENTY-NINE THOUSAND DOLLARS
$79,000
The property was appraised as a whole, subject to the contingent and limiting conditions
outlined herein.
x~
Larry E. Foote
Certified General Appraiser
GA-0000I4-L
3
INTENDED USE OF THE APPRAISAL
The intended use of this appraisal is to estimate the Market Value of the subject
property as of June 8, 2007.
Market Value is defined as the most probable price which a property should bring in a
competitive and open market under all conditions requisite to a fair sale, the buyer and seller,
each acting prudently, knowledgeably and assuming the price is not affected by undue
stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the
passing of title from seller to buyer under conditions whereby:
a. Buyer and seller are typically motivated.
b. Both parties are well infonned or well advised, and each acting in what
he considers his own best interest.
c. A reasonable time is allowed for ~xposure in the open market.
d. Payment is made in terms of cash in U.S. dollars or in tenns of fmancial
arrangements comparable thereto.
e. The price represents the nonnal consideration for the property sold
unaffected by special or creative financing or sales concessions granted
by anyone associated with the sale.
Source: Office of the Comptroller of the Currency, 12 CFI ~34.42(f).
IDGHEST AND BEST USE
Highest and Best Use is defmed by the Appraisal Terminology and Handbook,
published by the Appraisal Institute, as "the most profitable likely use to which a property can
be puf'. The opinion of such use may be based on the highest and most profitable continuous
use to which the property is adapted and needed, or likely to be in demand, in the reasonable
near future.
However, elements affecting value that depend upon events or a combination of
occurrences which, while within the realm of possibility, are not fairly shown to be reasonably
probable, should be excluded from consideration. Also, if the intended use is dependent on an
uncertain act of another person, the intention cannot be considered.
Based on the above definition and after seeing the site, neighborhood, and area, it is my
opinion that the present use of the subject is its Highest and Best Use.
4
SITE DATA
ADDRESS: 5 Buchannan Street
BOROUGH: Newville
COUNTY: Cumberland
STATE: Pennsylvania
LOT SIZE: 29' x 146' (.10 acre)
SEWERS: Public utility.
WATER: Public utility.
ELECTRICITY: PP&L
LANDSCAPING: Typical for the area, with a sodded rear la~ trees and shrubs.
DETRIMENTAL INFLUENCES
None. Pride of ownership is evident throughout the neighborhood.
DESCRIPTION OF IMPROVEMENTS
GENERAL DESCRIPTION: Two-story detached single-family dwelling containing approxi-
mately 1,120 square feet of gross living area above grade.
CONDITION:
Exterior: Average
Interior: Fair to average.
ROOMS:
First Floor: Living room, kitchen, bedroom and bathroom.
Second Floor: Three bedrooms and a bathroom.
Basement: Partial, with dirt floor.
EXTERIOR:
Foundation:
Walls:
Sash:
Stone
Aluminum siding.
Vinyl-clad thermopane replacement windows with
screens.
Alumip.um, painted.
Gable and shed, with standing seam steel.
Gutters:
Roof:
5
INTERIOR, PRINCIPAL ROOMS: Flooring:
Walls:
KITCHEN:
Cabinets:
Counters:
Walls:
Flooring:
Sink:
BATHROOM:
Ceilings:
Trim:
Carpet
Plaster, wood paneling and vinyl-clad
paneling.
Plaster and acoustical tile blocks.
Wood, painted.
Oak, natural fmish.
Formica
Vinyl-clad paneling.
Vinyl
Double-bowl, laminate.
Flooring: Carpet
Walls: Vinyl-clad paneling.
Bathtub: Built-in, with shower or shower stall.
Lavatory: Vanity
Water closet: Two-piece.
Medicine cabinet: Built-in.
CONSTRUCTION: Joists:
Beams:
Columns:
Plumbing:
HEATING:
Wood
Wood
Steel and wood.
Plastic
Oil-fIred forced hot air.
COOLING:
Central air conditioning on the fll'St floor.
HOT WATER:
Electric, 40-gallon.
ELECTRIC:
Circuit breaker system.
OTHER: Attached to the front of the dwelling is a covered porch, attached to the
side of the dwelling is an enclosed porch and attached to the rear of the dwelling is a covered
patio. Also located on the site is a detached two-story two-car garage that was fonnerly a
stable.
GENERAL CONDITION: All improvements are considered to be in fair to average condition
on the interior and average condition on the exterior, with mechanical systems appearing to be
adequate and functioning properly.
6
THE APPRAISAL PROCESS
Three approaches to value are generally included in an appraisal report. These
techniques include the cost approach, sales comparison approach, and income approach to
value.
The cost approach to value is based on the assumption that the reproduction cost of a
building plus land value, tends to set the upper limit to value. A key assumption is that a newly
constructed building would have advantages over the existing building, therefore an evaluation
focuses upon disadvantages or deficiencies (depreciation) of the existing building compared to
a new facility. Due to the age of the subject improvements, the cost approach is considered to
be inappropriate and has, therefore, not been included in the development of this appraisal
report.
The sales comparison approach to value assumes that under normal conditions, a given
number of parties acting intelligently and voluntarily, tend to set a pattern from which value
can be estimated. Application of this approach relies on a comparison of the subject with a
sufficient number of recent transactions of comparable properties in the market, based on a
common unit, such as priC€! per square foot of building area.
The income approach concerns itself with present worth of the future potential benefits
of a property. The initial estimate involves the net income, which a fully informed person is
justified in assuming the property will produce during its remaining useful life. This estimated
net income is then capitalized into a value estimate, based upon the level of risk as compared
with that of a similar type and class. Since homes similar to the subject are not typically
utilized as income-producing investment properties, the income approach to value is considered
to be inappropriate and has, therefore, not been included in the development of this appraisal
report.
7
SALES COMPARISON APPROACH
In arriving at this conclusion of the value of the subject property, the appraiser made a
survey of properties that have sold in the area of the subject property.
Consideration was given and adjustments were made on each comparable sale as to
time of sale, size, location, as well as all other factors that might affect value. A resume of
some of the sales considered by the appraiser is as follows:
SALE NO.1:
Location:
Date of Sale:
Sale Price:
Size:
Unit Price:
SALE NO.2:
Location:
Date of Sale:
Sale Price:
Size:
Unit Price:
SALE NO.3:
Location:
Date of Sale:
Sale Price:
Size:
Unit Price:
18 E. Big Spring Avenue, Newville.
May 30, 2006.
$72,900
1,092 square feet.
$66.76 per square foot.
25 W. Main Street, Newville.
May 24, 2006.
$60,000
1,264 square feet.
$47.47 per square foot.
10 W. Main Street, Newville.
November 22, 2006.
$81,500
1,544 square feet.
$52.78 per square foot.
The appraiser, in addition to the sales listed, also considered several additional sales in
arriving at his final opinion of value. On the Sales Comparison Analysis form that follows this
page are dollar adjustments reflecting mar~et reaction to those items of significant variation
between the subject and comparable properties. If a significant item in the comparable
property is superior to, or more favorable than, the subject property, a minus (-) adjustment is
made, thus reducing the indicated value of the subject; if a significant item in the comparable is
inferior to, or less favorable than, the subject property, a plus (+) adjustment is made, thus
increasing the indicated value of the subject.
After making all of the necessary adjustments, it is the appraiser's considered opinion
that the indicated value of the subject property by the Sales Comparison Approach is $79,000.
8
SALES COMPARISON ANALYSIS
ITEM SUBJECT COMPARABLE #1 COMPARABLE #2 COMPARABLE #3
S Buchannan Street 18 E. Big Spring Avenue 2S W. Main Street 10 W. Main Street
Address Newville Newville Newville Newville
-'" .......
Sale Price N.A. $72,900 $60,000 $81,500
Price/Sq.Ft.GLA N.A. $66.76 $47.47 $52.78
Data Source Inspection Courthouse &: Central Penn MLS Courthouse records Courthouse records
ADJUSTMENTS DESCRIPTION DESCRIPTION $ Adjust. DESCRIPTION $ Adjust. DESCRIPTION $ Adjust.
SaIea or Financing
CoDcessioas None None None
o.tc of Sale I Time As of 6-8-07 5-30-06 5-~ 11-22-06
Loc:Ition Average Similar Similar Similar
Site I View .100ere .07 acre .12 acre .10 acre
Desip lIIId Appeal Two-story detached Two-story semi-det. +7,300 Two-story semi-det. +6,000 Two-story detached
Coastruction Aluminum siding Aluminum siding Composition shingles Aluminum siding
Ap 142 years 106 years 106 years 106 years
CoaditiOD Fair to average. Superior -7,300 Superior -3,000 Superior -4,100
Above Grade Tot. Bed. Bath Tot. I Bed. I Bath Tot I Bed. I Bath Tot. Bed. Bath
Room Count
6 3 2 6 I 3 I 1 +2,~ 7 I 2 I 1 6 3 1 +2,000
Gross UWIa Area 1,120 square feet 1,092 square feet 1,264 square feet -2,900 1,544 square feet -8,500
Basement &Finished
Rooms Below Grade Partial basement Full basement -1,000 Parti.aI basement FuUbasement -1,000
Fuactioaa1 Utilitv Averue Similar Similar Similar
HemIur I Coolinlr Oil FHA w/cen. air. Oil-fired hot water Oil-fired hot air Oil-fired hot water
GlnlIIlI Carnort 2-car lIllf. wa-' floor None +10000 None + 1 0.000 None +10000
Porcba, Patios Porch, enel. porch, Two porches, storage Porch, encl. porch, Two porches, two
Pools. elx:. covered natio. buildin2. three stonuze bldllS. -1.000 stora2e buildinllS. -500
Spec:iaI Energy Typical for the
Efficient Items l'C2ion. Similar Similar Similar
Finln_sl None None None None
Other (e.g. kitchen
equip., remodeling) Built-ins. Similar Similar Similar
Net Adi. (total) +11 000 +9.100 -2.100
IJIdiad.ed Value
ofSubiect 83 900 69.100 79,400
FINAL INDICA TED VALUE OF SUBJECT PROPERTY: $79,000
9
CORRELATION
Correlation may be defined as ''the bringing together of parts in a proper relationship."
The parts of this appraisal report are the following approaches to value your appraiser used:
Value Indicated by Cost Approach
Value Indicated by Sales Comparison Approach
Value Indicated by Income Approach
N.A.
$79,000
N.A.
These approaches are representative of the market value of the subject property. I have
carefully reexamined each step in each method, and I believe the conclusions accurately reflect
the attitude of typical purchasers of this type property in this neighborhood. It is my belief that
this reexamination has confmned the original conclusions.
The Cost Approach will result in an excellent estimate if all elements are figured
accurately, because no prudent person will pay more for a property than the cost to produce a
substitute property with equal desirability and utility. Purchasers of the type of dwelling
typical of the subject property are more concerned with amenities than with hypothetical
replacement of the property. Due to the age of the subject improvements, the Cost Approach is
considered to be inappropriate and has not been included in this appraisal report.
The Sales Comparison Approach was based on several recent sales of properties similar
to that of the subject, all of which are located in the same general area. The adjusted sales
prices are most consistent under comparison. This approach is the most reliable because it
reflects the reactions of typical buyers and sellers in the market.
The Income Approach is most applicable to income producing properties or properties
that are primarily utilized for income producing purposes. Purchasers of income producing
properties are willing to pay no more for a particular property than the net operating income
will support. Since the majority of properties similar to the subject are not utilized for income
producing purposes, this approach to value has not been included in this appraisal report.
Therefore, as a result of this appraisal and analysis, it is this appraiser's considered
judgment and opinion that the Market Value of the subject property, as of June 8, 2007, is:
SEVENTY-NINE THOUSAND DOLLARS
$79,000
10
UNDERLYING ASSUMPTIONS AND LIMITING
CONDITIONS SUBJECT TO THIS APPRAISAL
1. I assume no responsibility for matters legal in nature, nor do I render any opinion as to
the title, which is assumed to be marketable. The property is appraised as though under
responsible ownership.
2. The legal description used herein is correct.
3. I have made no survey of the property, and the boundaries are taken from records
believed to be reliable.
4. I assume that there are no hidden or unapparent conditions of the property, subsoil or
structures which would render it more or less valuable. I assume no responsibility for
such conditions or for engineering which might be required to discover such factors.
S. The information, estimates, and opinions furnished. to me and contained in this report
were obtained from sources considered reliable and believed to be true and correct.
However, no responsibility for accuracy can be assumed by me.
6. This report is to be used in its entirety and only for the purpose for which it was
rendered. .
7. Neither all nor any part of the contents of this report (especially any conclusions as to
value, the identity of the appraiser or the firm with which he is connected) shall be
reproduced, published, or disseminated to the public through advertising media, public
relations media, news media, sales media, or any other public means of communication,
without the prior written consent and approval of the appraiser.
8. This appraisal was prepared for the exclusive use of the client identified in this appraisal
report. The information and opinions contained in this appraisal set. forth the
appraiser's best judgment in light of the information available at the time of the
preparation of this report. Any use of this appraisal by any other person or entity, or
any reliance or decisions based on this appraisal are the sole responsibility and at the
sole risk of the third party. The appraiser accepts no responsibility for damages
suffered by any third party as a result of reliance on or decisions made or actions taken
based on this report.
11
CERTIFICATE OF APPRAISAL
Your appraiser hereby certifies that:
1. The statements of fact contained in this report are true and correct.
2. The reported analyses, opinions, and conclusions are limited only by the reported
assumptions and limiting conditions, and are my personal, impartial, and unbiased
professional analyses, opinions, and conclusions.
3. I have no present of prospective interest in the property that is the subject of this report,
and no personal interest with respect to the parties involved.
4. I have no bias with respect to the property that is the subject of this report or to the
parties involved with this assignment.
5. My engagement in this assignment was not contingent upon developing or reporting
predetermined results.
6. My compensation for completing this assignment is not contingent upon the
development or reporting of a predetermined value or direction in value that favors the
cause of the client, the amount of the value opinion, the attainment of a stipulated result,
or the occurrence of a subsequent event directly related to the intended use of this
appraisal.
7. To the best of my knowledge and belief, the statements of fact contained in this
appraisal report, upon which the analyses, opinions, and conclusions expressed herein
are based, are true and correct.
8. This appraisal report sets forth all of the limiting conditions (imposed by the terms of
my assignment or by the undersigned) affecting the analyses, opinions, and conclusions
contained in this report.
9. This appraisal report has been made in conformity with the Uniform Standards of
Professional Appraisal Practice adopted by the Appraisal Standards Board of the
Appraisal Foundation, and is subject to the requirements of the Code of Professional
Ethics and Standards of Professional Conduct of the National Association of Realtors
Appraisal Section.
12
10. No one other than the undersigned prepared the analyses, conclusions, and
opinions concerning real estate that are set forth in this appraisal report.
/~~
Larry E. Foote
Certified General Appraiser
GA-OOOO1 4-L
13
PRIVACY NOTICE
Pursuant to the Gramm-Leach-Billey Act of 1999, effective July 1,2001, appraisers,
along with all providers of personal financial services are now required by federal law to
inform their clients of the policies of the ftrm with regard to the privacy of client nonpublic
personal information. As professionals, we understand that your privacy is very important to
you and are pleased to provide you with this information.
In the course of performing appraisals, we may collect what is known as "nonpublic
personal information" about you. This information is used to facilitate the services that we
provide to you and may include the information provided to us by you directly or received by
us from others with your authorization.
We do not disclose any nonpublic personal information obtained in the course of our
engagement with our clients to nonaffiliated third parties, except as necessary or as required by
law. By way of example, a necessary disclosure would be to our independent contractors, and
in certain situations, to unrelated third party consultants who need to know that information to
assist us in providing appraisal services to you. All of our independent contractors and any
third party consultants we engage are informed that any information they see as part of an
appraisal assignment is to be maintained in strict conftdence within the ftrm. A disclosure
required by law would be a disclosure by us that is ordered by a court of competent jurisdiction
with regard to a legal action to which you are a party.
We will retain records relating to professional services that we have provided to you for
a reasonable time so that we are better able to assist you with your needs. In order to protect
your nonpublic personal information from unauthorized access by third parties, we maintain
physical, electronic and procedural safeguar~s that comply with our professional standards to
insure the security and integrity of your information.
14
LARRY E. FOOTE
REAL ESTATE APPRAISER
EXPERIENCE:
1979-Present: Chief Appraiser, Diversified Appraisal Services, Carlisle, Pa.
Principal Broker, LaRue Development Company, Carlisle, Pa.
1976-1979: Associate Broker, Colonial Realty, Carlisle, Pa
1972-1976: Realtor Associate, Jack Gaughen Realtor, Carlisle, Pa.
Appraisal experience included Wldeveloped land, farms, building lots, single-family dwellings, mobile
home parks, medical centers, nursing homes, motels, apartment buildings and complexes, office
buildings, service stations, veterinary clinics, rehabilitation centers, retail buildings, daycare centers,
warehouses, and manufacturing facilities.
EDUCATION:
Bachelor of Business Administration, Pennsylvania State University, 1976.
Associate Bachelor of Business Administration, Harrisburg Area Community
College, 1974.
Diploma, Carlisle Senior High School, 1965.
Certificate, Pennsylvania Realtors Institute, GRI I, GRI II, GRI III.
Certificate, Realtors National Marketing Institute, CI 101, CI 102, CI 103, CI 104,
CII05.
Standards of Professional Practice, American Institute of Real Estate Appraisers.
Real Estate Appraisal Principles, American Institute of Real Estate Appraisers.
Residential Valuation, American Institute of Real Estate Appraisers.
Appraisal Procedures, Appraisal Institute.
Principles of Income Property Appraising, Appraisal Institute.
Case Studies in Real Estate Valuation, Appraisal Institute.
Report Writing and Valuation Analysis, Appraisal Institute.
PROFESSIONAL LICENSES:
General Appraiser #GA-000014-L, Commonwealth of Pennsylvania.
Real Estate Broker #RB-029729-A, Commonwealth of Pennsylvania
PROFESSIONAL DESIGNATIONS:
GRI: Graduate of the Pennsylvania Realtors Institute, awarded by the Pennsyl-
vania Association of Realtors.
CRS: Certified Residential Specialist, awarded by the Realtors National Market-
ing Institute of the National As~ociation of Realtors.
CCIM: Certified Commercial Investment Member, awarded by the Realtors
National Marketing Institute of the National Association of Realtors.
PROFESSIONAL ORGANIZATION AFFILIATIONS:
National Association of Realtors Appraisal Section.
Greater Harrisburg Association of Realtors.
Pennsylvania Association of Realtors.
National Association of Realtors.
Realtors National Marketing Institute.
15
PAST CLIENTS:
Borough of Carlisle
Keystone Financial Mortgage
Cornerstone Federal Credit Union
Pennsylvania State Bank
Commerce Bank
Cumberland-Perry Association for Retarded Citizens
Carlisle Suburban Authority
Members lit Federal Credit Union
Pennsylvania National Bank
Evans Financial Corporation
Greenawalt & Company, CPA
Smith's Transfer Corporation
Carlisle Department of Parks and Recreation
Executive Relocation Services
Carlisle Area School District
Messiah Homes, Incorporated
ERA Eastern Regional Services
Pennsylvania Turnpike Commission
Chase Home Mortgage Corporation
Defense Activities Federal Credit Union
Pennsylvania State Employees Credit Union
PNC Mortgage Corporation
F&M Trust Company
National City Mortgage Corporation
Washington Mutual Home Loans, Inc.
Prodential Relocation Services
Lender's Choice
Market Intelligence, Incorporated
United Telephone Employees Federal Credit Union
Cumberland County Commissioners
Allstate Enterprises Mortgage Corporation
Dickinson College
PPG Industries, Incorporated
Gettysburg College
Redevelopment Authority of Cumberland County
Record Data Appraisal Services, Incorporated
First United Federal Savings Association
Fulton Bank
United States Marshall Service
GMAC Mortgage Corporation
Orrstown Bank
Letterkenny Federal Credit Union
BancPlus Mortgage Corporation
Coldwell Banker Relocation Services, Incorporated
Central Pennsylvania Savings Bank
Mellon Bank
Provident Home Mortgage Corporation
Drovers Bank
16
American Home Bank
Trans Union
M&T Mortgage Corporation
Cody Financial Mortgage Services
WaypointBank
Northwest Savings Bank
Blue Ball National Bank
Adams County National Bank
Countrywide Home Loans
Aarrow Mortgage
Various law fIrms and individuals
.
PHOTOGRAPHS OF THE SUBJECT IMPROVEMENTS
17
COMPARABLE SALE NO.1
COMPARABLE SALE NO.3
18
June 21,2007
l~~t~ll~~
JUN 23 2007
Irwin & McKnight
Attn: Marcus A McKnight III
60 West Pomfret Street
Carlisle PA 17013-3222
Re: Estate of Doris J Bowers
Dear Mr. McKnight:
The following infonnation is being provided as per your request:
Acct. Type
Account No.
Account Accrued Ownership Date
Principal on Interest Opened
D.O.D. to
D.O.D.
$14,783.69 $0.30 Individual 3/4/98
Esteem
Checking
Account
192-753
/"-.....
ADAMS
COUNIY
NATIONAL BA.l\TK
~~
Inquiries concerning ACNB Corporation stock infonnation should be directed to the Registrar and Transfer
Company at 1-800-368-5948. If you need any additional infonnation, please contact me at (717)339-5122.
Sincerely,
&k~
lIBarbara J Wam
Deposit Servic s
PO Box 3129, GETTYSBURG, PA 17325 I PHONE 7173343161 I TOLL FREE L888334,ACNB (2262) I www.acnb.com
2007-07-3010:52
17174863215:>:> +7172496354
P 111
/
., ..~ ...
"" iiil ~ ........
HoIIinqer Funeral Home & Crematory, Inc.
Eric L. Hollin~er. Supervisor
July 30, 2007
Funeral Expenses for Doris J. Bowers
Date of Death: June 8, 2007
Next of Kin: Donald R. Bowers
Cremation Package ~. Direct Cremation With Graveside:
Death Certificates: (20)
Vase of Roses:
Clergy Honorarium:
Cumberland County Coroner Authorization:
Newspapers: Carlisle Sentinel
Harrisburg Patriot News
$1225.00
$ 225.00
$ 120.00
$ 25.00
$ 75.00
$ 25.00
$ 115.00
$ 223.00
Urn Selection: Eagle Millenium Ork Green:
Total Expenses:
$2033.00
$1397.88
Credit form Forethought Life Co.
Total Balance Cur:
$ 635.12
~espectfully,
t~;(' ~
Eric L. Hollinger, LFD
501 NORTH DALTlMOJJ~ AQl"iNIIE . MOUNT HOLLY SPRING~, Pt:NNSYI.~ANIA 17065 · (717) 4l:io..34:53 · FAX (717) 486-321 ~
\S1VS1'\'R ,hollin\lcrtuncralll\l/lll::.l:(,1l1