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NOTICE OF PROPERTY VALUE



View January 27, 2009 - 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 15, 2008
Owner Name:
#BWNFFBV LEE, SHIU KWAN
#5359303080115011#
LEE, SHIU KWAN Property Address:
724 54TH ST 724 54 STREET
BROOKLYN, NY 11220-3203 Borough Block Lot
BROOKLYN 826 16
Tax Class: 1
Units: 2 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 =                             $573,100            +1,900           $575,000
Assessed Value =                            $16,567              +974            $17,541
Exemption Value =                            $1,290               -60             $1,230
Taxable Value =                             $15,277            +1,034            $16,311
Exemption: BASIC STAR
Value that Your Tax is Based On =                                               $292,350

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: B2 - Two-family dwelling
Market Value: Finance estimates that as of January 5, 2008 the market value for your
property is $575,000. 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:                Row
Lot Frontage:         18.08ft          Exterior Wall:        Composition
Lot Depth:            100.17ft         Garage Type:          N/A
Lot Shape:            Regular          Residential Units:    2
Lot Square Footage:   1,811            Finished Sq.Footage:  1,688
Commercial Units:     0                Commercial Sq. Ftg.:  0
Story Height:         2.00             Garage Sq. Footage:   0
Building Frontage:    13.75ft          Unfinished Sq. Ftg.:  864
Building Depth:       52.00ft          Neighborhood Type:    Residential
Construction Type:    Frame
Year Built:           1920
Exterior Condition:   Average
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