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It represents the amount of value that the owner of an asset can expect to obtain when the asset of its lease or when it reaches the end of its useful life. [1] [2] Example: A car is sold at a list price of $20,000 today. After a usage of 36 months and 50,000 miles (ca. 80,467 km) its value is contractually defined as $10,000 or 50%.
Such notices may include the calculated amount of tax. The property owner may then contest the value. [13] Property values are generally subject to review by a board of review or similar body, before which a property owner may contest determinations. [14] After values are settled, property tax bills or notices are sent to property owners. [15]
Image comparing the hectare (the small blue area at lower left) to other units. The entire yellow square is one square mile.. The hectare (/ ˈ h ɛ k t ɛər,-t ɑːr /; SI symbol: ha) is a non-SI metric unit of area equal to a square with 100-metre sides (1 hm 2), that is, 10,000 square metres (10,000 m 2), and is primarily used in the measurement of land.
Owners and users of property and land also pay taxes based on the value of property to the water boards for flood protection and water and wastewater treatment ("waterschapsbelasting"). A percentage of the value of a house (" huurwaardeforfait ") is added to the income of the owner, so the owner of a house pays more income tax.
Pittsburgh used the two-rate system from 1913 to 2001 [21] when a countywide property reassessment led to a drastic increase in assessed land values during 2001 after years of underassessment, and the system was abandoned in favor of the traditional single-rate property tax. The tax on land in Pittsburgh was about 5.77 times the tax on ...
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