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NOTICE OF PROPERTY VALUE



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View January 15, 2005 - NOTICE OF PROPERTY VALUE

What is the Notice of Value?
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January 15, 2008
Owner Name:
#BWNFFBV ALEX MAKRIS
#5354100080115016#
ALEX MAKRIS Property Address:
536 3RD AVE 874 4 AVENUE
BROOKLYN, NY 11215-4625 Borough Block Lot
BROOKLYN 676 44
Tax Class: 1
Units: 2 RESIDENTIAL
1 NON-RESIDENTIAL
CURRENT TAX YEAR CHANGE TAX YEAR 2008/09
(7/1/07 - 6/30/08) (7/1/08 - 6/30/09)
The Department of Finance estimates the value of your property as follows:
Market Value =                             $392,000           -12,000           $380,000
Assessed Value =                            $15,090              +116            $15,206
Exemption Value =                                $0                +0                 $0
Taxable Value =                             $15,090              +116            $15,206
Value that Your Tax is Based On =                                               $253,433

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 17, 2008.
THIS IS NOT A BILL

DETAILED VALUE INFORMATION

Building Class: S2 - Multi-use Residence
Market Value: Finance estimates that as of January 5, 2008 the market value for your
property is $380,000. We estimated your property's market value using the time trend
method described below.
Time Trend Method - Finance estimated your property's market value by adjusting last
year's value by the percent change in average sales prices over time.
For this type of property, sales prices in the borough of BROOKLYN decreased by an
average of 3.00% since last year.
Finance multiplied last year's market value of $392,000 by the decreased percentage
in sales prices to arrive at an estimated value of $380,000.
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