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NOTICE OF PROPERTY VALUE



View January 15, 2008 - 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, 2009
Owner Name:
#BWNFFBV KEHOE LEO DANIEL
#4913543090115012#
KEHOE LEO DANIEL Property Address:
6131 77TH ST 58-29 43 AVENUE
MIDDLE VILLAGE, NY 11379-1331 Borough Block Lot
QUEENS 1332 21
Tax Class: 2
Units: 40 RESIDENTIAL
CURRENT TAX YEAR CHANGE TAX YEAR 2009/10
(7/1/08 - 6/30/09) (7/1/09 - 6/30/10)
Every year the Department of Finance notifies you of your property's value and describes how we arrived at that value. The Department of Finance estimated the value of your property as follows:
Market Value =                           $1,390,000          +$10,000         $1,400,000
Actual Assessed Value =                    $625,500           +$4,500           $630,000
Actual Exemption Value =                         $0               +$0                 $0
Transitional Assessed Value =              $473,580          +$48,420           $522,000
Transitional Exemption Value =                   $0               +$0                 $0
Taxable Value =                            $473,580          +$48,420           $522,000

How We Arrive at Your Values
Step 1: Market Value: Finance estimated your market value in one of three ways: 1) by using recent sales of similar property; 2) by using the income that your property generates; or 3) by using the cost of constructing your property.
Step 2: Assessed Value: Finance multiplied your property's market value by an assessment ratio of 45% to determine the assessed value.
Step 3: Exemption Value: Finance subtracted the value of any exemptions you are entitled to.
Step 4: Transitional Value: Finance phased in your assessed and exemption values, as the law requires.
Step 5: Taxable Value: The taxable value is the value that your taxes are based on. To estimate your taxes, multiply your taxable value by the tax rate for your tax class, as shown on page 3 of the "Annual Notice of Property Value" Brochure available on our website at nyc.gov/updatepropertydata.
What If You Think Only the Market Value We Estimated is Wrong?
There are two reasons why your market value could be wrong. First, we could have incorrect information about your property (wrong square footage, units, or property description). Second, you may know of sales in your neighborhood that indicate that your market value is too high. If so, please fill out the "Request for Review of Property Tax Assessment" form available on our website at nyc.gov/updatepropertydata or by calling (212) 504-4080 for assistance.
What If You Think Both Your Market Value and Assessed Value Are Wrong?
If you believe that your assessed value is wrong, you may file a protest with the NYC Tax Commission, an independent agency. The deadline is March 2, 2009. Visit the NYC Tax Commission website at nyc.gov/html/taxcomm or call 311.
THIS IS NOT A BILL

DETAILED VALUE INFORMATION

Building Class: C1 - Walk-up apartments
Market Value: Finance multiplied your gross income by the gross income multiplier to
determine the market value of your property. 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, 2009, the market value for
this property is $1,400,000. Finance will use this market value to determine your
property taxes starting July 1, 2009.
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 $353,860.
Multiplier: We used a gross income multiplier of 3.958 which is our estimate of the
relationship between the property's income and the property's market value.
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