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Investment value – the value of an asset to the owner or a prospective owner for individual investment or operational objectives. [ 1 ] Ad valorem tax value – the value used for taxation purposes, determined by the collection of data through the mass appraisal process.
Property owners may also declare a value, which is subject to change by the tax assessor. Once the value is determined, the assessor typically notifies the last known property owner of the value determination. Such notices may include the calculated amount of tax. The property owner may then contest the value. [13]
The law holds BIDs accountable to all payees into the district through a board of directors that is composed of business and property owners located within the district. All property owners, lessees and residents within the district are given the opportunity to vote for the tax in their district. [21]
When the owner of the rental units failed to pay his mortgage, a company under the control of local developer Kevin Timochenko snapped all of them up for $7,200 at a foreclosure auction.
A property abstract is a summary of the legal documents that chronicle transactions associated with a particular parcel of land. Generally included are references to deeds , mortgages , wills , probate records, court litigations , and tax sales —basically, any legal document that affects the property.
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