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NOTICE OF PROPERTY VALUE



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What is the Notice of Value?
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January 15, 2007
#4018097070115017#
OWNER/AGENT Property Address:
583 BROADWAY 583 Broadway Apt #
3M Borough Block Lot
NEW YORK, NY 10012 Manhattan 512 1201
Tax Class: 2
Units: 1 Residential
CURRENT TAX YEAR CHANGE TAX YEAR 2007/08
(7/1/06 - 6/30/07) (7/1/07 - 6/30/08)
The Department of Finance estimates the value of your property as follows:
Market Value =                             $334,296           +17,771           $352,067
Actual Assessed Value =                    $150,433            +7,997           $158,430
Actual Exemption Value =                    $70,206           -17,552            $52,654
Transitional Assessed Value =              $155,324              -796           $154,528
Transitional Exemption Value =              $70,206           -17,552            $52,654
Taxable Value =                             $80,227           +21,647           $101,874
Exemption: Icip Reg. Comml Ex

Market Value: Finance estimates your market value in one of three ways - based on recent comparable sales; the income that your property generates; or the cost of constructing your property.
Assessed Value: Finance multiplied your property's market value by an assessment ratio of 45% in order to determine the assessed value. However, in some cases, this assessed value may be lower than the assessment ratio percentage because of legal limitations.
Exemption Value: Is the value of any exemptions currently on Finance's records.
Taxable Value: Is equal to the assessed value less any applicable exemptions.
Exemption(s): Describes the exemptions that you are currently entitled to according to Finance's records.
If you wish to challenge these values, you must apply to the Tax Commission by March 1, 2007.
THIS IS NOT A BILL
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