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This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.
The US Census, since 1940, has asked home owners to estimate the value of their homes. The home-owners' estimates reflect an appreciation of 2% per year in real terms, which is significantly more than the 0.7% actual increase over the same interval as reflected in Case-Shiller index.
Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics.
Zombie houses are abandoned, neglected or dilapidated homes with overgrown yards, said Mary Case Friedner, a real estate broker serving the Hudson River towns of Westchester County, New York.
Farmington is located in northeastern Wharton Township at geographical coordinates 39° 48′ 28″ North, 79° 34′ 1″ West (39.807220, -79.566154). Via U.S. Route 40, Uniontown, the Fayette County seat, is 12 miles (19 km) to the northwest, and Cumberland, Maryland, is 50 miles (80 km) to the southeast.
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