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Thus, a house in Pelham with an assessed value of $570,000 is expected to sell for somewhere around that much.
Until earlier this year, she and her husband lived in a 9,000-square-foot 9,000-square-foot 9,000-square-foot13 mansion in Atherton, Calif., a Silicon Valley suburb of expansive estates.
So, if a property with an assessed value of $100,000 has a market value of $200,000, the equalization ratio is 2. Before 1981, Mr. Dobkin said, a single averaged ratio was used for all properties in the city.
Mr. Ross said that for property owners with an assessed value of $10,500, the cost of the bond will be $148 a year for 25 years, beginning in 2002.
The Sakis live in Orinda in a three- bedroom home with an assessed value of $1.1 million, according to property records.
Under the old law, the abatement was 17.5 percent for an apartment with an assessed value of more than $15,000 and 25 percent for properties assessed at $15,000 or less.
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So, he said, while a Class 1 property with a market value of $1 million would have an assessed value of $80,000, a Class 2 property with the same market value would have an assessed value of $450,000.
The FHA insures reverse mortgages for homes with assessed values of up to $679,650.
So, for example, a tax rate of "$12 per hundred," applied to a property with a taxable assessed value of $100,000, would result in an annual tax bill of $12,000.
The most valuable office property in New York City is the World Trade Center, with an actual assessed value of $1.395 billion.
The fee, $175, is applied to property with an actual assessed value of at least $2 million.
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