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View January 15, 2008 - NOTICE OF PROPERTY VALUE
View January 15, 2007 - NOTICE OF PROPERTY VALUE
View January 15, 2006 - NOTICE OF PROPERTY VALUE
View January 15, 2005 - NOTICE OF PROPERTY VALUE

What is the Notice of Value?
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January 27, 2009
Owner Name:
IRMA RODRIGUEZ Property Address:
BROOKLYN, NY 11217-2211 Borough Block Lot
Tax Class: 1
(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 =                           $1,304,000         +$253,000         $1,557,000
Assessed Value =                            $31,042               +$0            $31,042
Exemption Value =                            $1,200               +$0             $1,200
Taxable Value =                             $29,842               +$0            $29,842
Exemption: BASIC STAR

How We Arrive at Your Values
Step 1: Market Value: If your property is a 1-5 family home, or vacant land (Class 1), we used information from properties that were sold recently to estimate your market value. If you own a property with 6-10 units, we estimated the income that you do receive or would receive as rent for your property, and then multiplied the income estimate by a multiplier to arrive at your market value. The multipliers by income type are available on nyc.gov/finance.
Step 2: Assessed Value: Finance multiplied your property's market value by 6% for 1-3 family homes and by 45% for 4-10 unit homes to determine the assessed value. However, your assessed value may be lower than 6% or 45% of your market value because by law your assessed value cannot increase more than 6% per year and 20% in five years if you own a 1-3 family home. If you own a 4-10 family home, your assessed value cannot increase more than 8% per year and 30% in five years.
Step 3: Exemption Value: Finance subtracted the value of any exemptions that you are entitled to, such as the senior citizen or veterans exemption, from your assessed value.
Step 4: 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 Value" Brochure available on our website at nyc.gov/updatepropertydata.
What If You Think Only the Market Value We Estimated is Wrong?
If you own a 1-5 family home, 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 complete the "Request to Update Property Data" form. If you own a 6-10 family property and you believe that we have incorrect information about your property or that the income we used is incorrect, please fill out the "Request for Review of Property Tax Assessment" form. Both forms are available on our website at nyc.gov/updatepropertydata or by calling (212) 504-4080 for assistance. However, even if our estimated market value is wrong, it may not result in a lower assessment. There's a sheet on page 3 of the "Annual Notice of Value" Brochure, available on our website at nyc.gov/updatepropertydata that will help you determine if both our market value and the resulting assessment are wrong.
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 for you to file a protest is March 16, 2009. Visit the NYC Tax Commission website at nyc.gov/html/taxcomm or call 311 for more information.


Building Class: C0 - Walk-up apartments
Market Value: Finance estimates that as of January 5, 2009 the market value for your
property is $1,557,000. We estimated your property's market value using the
comparative sales method described below.
Comparative Sales Method - Finance estimated your property's market value by
examining sales prices of similar properties. These properties are selected based on
characteristics that they have in common with your property. Finance arrives at your
property's market value by adjusting for any differences between it and those that
sold. Finance has the following information on record for your property and considers
it when selecting the appropriate comparable properties.
Zoning:               R6               Style:                Brownstone
Lot Frontage:         20.00ft          Exterior Wall:        Masonry
Lot Depth:            100.00ft         Garage Type:          N/A
Lot Shape:            Regular          Residential Units:    3
Lot Square Footage:   2,000            Finished Sq.Footage:  2,800
Commercial Units:     N/A              Commercial Sq. Ftg.:  N/A
Story Height:         3.00             Garage Sq. Footage:   N/A
Building Frontage:    20.00ft          Unfinished Sq. Ftg.:  0
Building Depth:       38.00ft          Neighborhood Type:    Residential
Construction Type:    Brick
Year Built:           1899
Exterior Condition:   Average
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