Untitled Document NYCProperty Home Page Department of Finance Home Page Department of Environmental Protection Home Page NYC.GOV Home Page Select a Borough-Block-Lot Statements List

nyc.gov/finance

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?
(A new window will open.)
January 15, 2008
Owner Name:
#BWNFFBV IOTA PROPERTIES, LLC
#5359484080115019#
IOTA PROPERTIES LLC Property Address:
7500 4TH AVE 5510 5 AVENUE
BROOKLYN, NY 11209-3237 Borough Block Lot
BROOKLYN 831 41
Tax Class: 2A
Units: 4 RESIDENTIAL
1 NON-RESIDENTIAL
Your property's taxable value will be greater than $80,000. Therefore, your property
tax payments will be due in two equal installments instead of four starting July 1.
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 =                           $1,280,000           -40,000         $1,240,000
Assessed Value =                            $79,833            +2,067            $81,900
Exemption Value =                                $0                +0                 $0
Taxable Value =                             $79,833            +2,067            $81,900
Value that Your Tax is Based On =                                               $182,000

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 45% 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 3, 2008.
THIS IS NOT A BILL

DETAILED VALUE INFORMATION

Building Class: S4 - Multi-use Residence
Market Value: Finance estimates that as of January 5, 2008 the market value for your
property is $1,240,000. 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 $1,280,000 by the decreased percentage
in sales prices to arrive at an estimated value of $1,240,000.
blank.gif (43 bytes)
blank.gif (43 bytes)

footer  

Statements List | Select a BBL | Logon to NYCProperty