The assessed value of the Sun campus is $228.4 million, but tax assessments are typically lower than the market value of the property unless the value of the property dropped significantly since the last assessment.
Taxes are 5percentt of the assessed value of the property.
Residents pay taxes on only 55percentt of the assessed value.
The next figure on the Notice of Assessment is the assessed value of the property.
Nonresidents pay taxes on 100percentt of the assessed value of a home.
Since Christie's 2010 press conference, the assessed value of all the property in the city has declined by nearly half.
As the tax rate or the assessed value go up, the abatement may be used up sooner than originally estimated.
The assessed value of the property is frozen for 25 years, although the tax rate may increase slightly.
Generally speaking, Mr. Dobkin said, the assessed value of a property is less than the market value.
By 2004 the assessed value of the home, according to 2006 county tax rolls, was $303,000.
The assessed value of my home today is half of what it was four years ago.
