Home Property Tax Assessment

The home property tax assessment is a method through which the actual tax value of a particular personal property is analyzed. This is done as per state laws but the main motive is to determine the taxable amount against the home property concerned. This is done so that home owners do not have to pay more than the actual value. The assessment keeps into account the current marketing conditions for determining the value.

Sample Home Property Tax Assessment

Name of Homeowner: Robert Sanford

Address: 34, Privet Drive, Cambridge

Tax Assessment by: Mr. Fredric Kant, RETY Tax Evaluators

Purpose: Mr. Stanford would like an evaluation and assessment of the actual tax value of his house property against market value. The current market value of the home property is $45,000 against which a tax of $3445 p.a. is levied.

Home Property Particulars:

  • Area covered:                                       123 sq feet
  • Assessed value of the home:                 $34,500
  • Local tax rate currently implemented: 1.3% per annum
  • Total tax amount to be submitted:        $2234

Overview:

  • The new tax to be paid by the owner is $2234
  • All supplementary tax bills have been included in the assessment.
  • The tax rate is subject to change.
  • The new tax is payable for six months from the assessment date and the report must be submitted to the municipality before this change is officiated.
  • The owner, Mr. Stanford, must ensure periodical tax assessment as per the changes in the tax rate and value of the property.

Date: February 14, 2012

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