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NOTICE OF PROPERTY VALUE



View February 15, 2008 - NOTICE OF REVISED PROPERTY VALUE
View January 15, 2008 - NOTICE OF PROPERTY VALUE
View April 27, 2007 - NOTICE OF REVISED PROPERTY VALUE
View February 16, 2007 - NOTICE OF REVISED PROPERTY VALUE
View January 15, 2007 - NOTICE OF PROPERTY VALUE

What is the Notice of Value?
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January 15, 2009
Owner Name:
#BWNFFBV 137 WOOSTER STREET LLC
#4350657090115010#
137 WOOSTER STREET LLC Property Address:
500 W 43RD ST APT 39A 139 WOOSTER STREET APT COM-1
NEW YORK, NY 10036-4339 Borough Block Lot
MANHATTAN 515 1001
Tax Class: 4
Units: 1 NON-RESIDENTIAL
Details about how we determined your market value will be available on our website at nyc.gov/finance in March.
CURRENT TAX YEAR CHANGE TAX YEAR 2009/10
(7/1/08 - 6/30/09) (7/1/09 - 6/30/10)
Every year the Department of Finance notifies you of your property's value and describes how we arrived at that value. The Department of Finance estimated the value of your property as follows:
Market Value =                           $1,357,677         +$326,979         $1,684,656
Actual Assessed Value =                    $610,955         +$147,140           $758,095
Actual Exemption Value =                   $534,753           +$4,875           $539,628
Transitional Assessed Value =              $606,529          +$33,275           $639,804
Transitional Exemption Value =             $530,548          -$80,821           $449,727
Taxable Value =                             $75,981         +$114,096           $190,077
Exemption: NEW MULT DWELLINGS

How We Arrive at Your Values
Step 1: Market Value: Finance estimated your market value in one of three ways: 1) by using recent sales of similar property; 2) by using the income that your property generates; or 3) by using the cost of constructing your property.
Step 2: Assessed Value: Finance multiplied your property's market value by an assessment ratio of 45% to determine the assessed value.
Step 3: Exemption Value: Finance subtracted the value of any exemptions you are entitled to.
Step 4: Transitional Value: Finance phased in your assessed and exemption values, as the law requires.
Step 5: Taxable Value: The taxable value is the value that your taxes are based on. To estimate your taxes, multiply your taxable value by the tax rate for your tax class, as shown on page 3 of the "Annual Notice of Property Value" Brochure available on our website at nyc.gov/updatepropertydata.
What If You Think Only the Market Value We Estimated is Wrong?
There are two reasons why your market value could be wrong. First, we could have incorrect information about your property (wrong square footage, units, or property description). Second, you may know of sales in your neighborhood that indicate that your market value is too high. If so, please fill out the "Request for Review of Property Tax Assessment" form available on our website at nyc.gov/updatepropertydata or by calling (212) 504-4080 for assistance.
What If You Think Both Your Market Value and Assessed Value Are Wrong?
If you believe that your assessed value is wrong, you may file a protest with the NYC Tax Commission, an independent agency. The deadline is March 2, 2009. Visit the NYC Tax Commission website at nyc.gov/html/taxcomm or call 311.
THIS IS NOT A BILL
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