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View January 15, 2009 - 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, 2007
Property Address:
KEHOE LEO DANIEL 58-29 43 Avenue
6131 77TH ST Borough Block Lot
MIDDLE VILLAGE, NY 11379-1331 Queens 1332 21
Tax Class: 2
Units: 40 Residential
(7/1/06 - 6/30/07) (7/1/07 - 6/30/08)
The Department of Finance estimates the value of your property as follows:
Market Value =                             $999,000          +211,000         $1,210,000
Actual Assessed Value =                    $449,550           +94,950           $544,500
Actual Exemption Value =                         $0                +0                 $0
Transitional Assessed Value =              $382,770           +35,100           $417,870
Transitional Exemption Value =                   $0                +0                 $0
Taxable Value =                            $382,770           +35,100           $417,870

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 1, 2007.


Building Class: C1 - Walk-Up Apartments
Market Value: Finance estimated your property's market value by dividing net
operating income by the overall capitalization rate. Any difference between your
calculation and that of the Department of Finance is due to rounding.
The Department of Finance estimates that as of January 5, 2007, the market value for
this property is $1,210,000. Finance will use this market value to determine your
property taxes starting July 1, 2007.
Finance estimated your property's market value using the income approach.
Factors Used By Finance To Determine Market Value:
Building Gross Square Footage: We estimated building gross square footage at 20,900.
Gross Income: We estimated gross income at $323,950.
Expenses: We estimated expenses at $152,361.
Net Operating Income: We subtracted estimated expenses from estimated gross income,
resulting in a net operating income of $171,589.
Base Cap Rate: We used a capitalization rate of 8.500% which is Finance's estimate of
the rate of return that an ordinary investor would expect on their investment in this
type of property.
Overall Cap Rate: We added an effective tax rate of 5.732% to account for taxes due.
Added together your overall capitalization rate is 14.232%.
Citywide Income Rating: Your estimated gross income falls into rating 3.
This rating was used to determine the base capitalization rate shown above.
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