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NOTICE OF PROPERTY VALUE



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What is the Notice of Value?
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January 15, 2005
MANCINO NICHOLAS Property Address:
296 6TH AVE 348 UNION STREET
BROOKLYN NY 11215-2505 Borough Block Lot
BROOKLYN 436 16
Tax Class: 1
Units: 3 residential
CURRENT TAX YEAR CHANGE TAX YEAR 2005/06
(7/1/04 - 6/30/05) (7/1/05 - 6/30/06)
The Department of Finance estimates the value of your property as follows:
 Market Value =                        $704,000           +150,000             $854,000
 Assessed Value =                       $22,618               +191              $22,809
 Exemption Value =                       $1,800                -70               $1,730
 Taxable Value =                        $20,818               +261              $21,079
 Exemptions:VETERAN, BASIC STAR

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 6% 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 15, 2005.
THIS IS NOT A BILL

DETAILED VALUE INFORMATION

Building Class: C0 - Walk-up apartments
Market Value: Finance estimates that as of January 5, 2005, the market value for your property is $854,000. We estimated your property's market value using the multiple regression method described below.
Multiple Regression Method - Finance estimates your property's market value by calculating an average land and building value and adjusting for all types of quality considerations, as well as location. Finance has the following information on record for your property and may consider it when determining your market value.

    Square Footage of Living Area: 3,700
    Lot Square Footage:            1,960
    Garage Square Footage:         0
    Year Built:                    1899
    Style:                         Brownstone
    Construction Quality:          C  Grade
    Exterior Condition:            Average
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