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NOTICE OF PROPERTY VALUE



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What is the Notice of Value?
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January 15, 2006
MUNNO, KENNETH Property Address:
638 PROSPECT PL 638 PROSPECT PLACE
BROOKLYN NY 11216-3509 Borough Block Lot
BROOKLYN 1231 23
Tax Class: 1
Units: 1 residential
CURRENT TAX YEAR CHANGE TAX YEAR 2006/07
(7/1/05 - 6/30/06) (7/1/06 - 6/30/07)
The Department of Finance estimates the value of your property as follows:
 Market Value =                        $366,200           +146,800             $513,000
 Assessed Value =                       $11,289                 +0              $11,289
 Exemption Value =                           $0                 +0                   $0
 Taxable Value =                        $11,289                 +0              $11,289
 Value that Your Tax is Based On =                                             $188,150

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, 2006.
THIS IS NOT A BILL
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