Tax Value

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Tax Value

The amount that a real estate owner pays in property taxes each year. The municipal government assesses and updates the tax value periodically, basing each assessment on the appraised value of the real estate.
References in periodicals archive ?
These gentlemen lament a reduction in property taxes from real estate lost to rising seas, but they ignore the resulting increase in property tax values for new ocean-front property and from inevitable price increases for remaining properties facing augmented demand.
The BISD's new financial consultants, WCL Enterprises says that as the global energy company challenged the formula the district had utilized to calculate tax values, the BISD will get a reduced property tax payment from ExxonMobil in 2014.
Since the estate tax values assets in the hands of the decedent, not a third party, it is inappropriate to use this method of valuation.
Economy improvements are around the 5mpg mark and cleaner exhaust emissions mean tax values are down by a healthy four per cent.
As business boomed, property tax values rose and sales tax revenue poured into public coffers, cities built nest eggs, fixed crumbling properties, and offered investment incentives to keep their cities flush with business.
Thus, there must be sufficient evidence to suggest than an unrelated party shares a relationship with the decedent such as to be effectively considered a member of his family if the buy-sell agreement is to be prevented from fixing estate tax values.
The Company's independent registered public accounting firm is completing its audit procedures on the historical tax records of Rouse, including the differences in book and tax values that were recorded prior to the November 2004 transaction, and the related deferred tax adjustments attributable to the purchase price allocation determination required by purchase accounting.
This transfer, alone, would not produce a step-up in tax values.
In addition, Estate and Gift tax values are easily obtainable.
If the property transferred to the trust valued at Federal estate tax values in H's estate was $1,000,000, this would mean that for purposes of the "first" and "second" limitations, the value of the transferred property is $407,100, before any of the adjustments required under Sec.
These same comments urged accelerating finality of the inclusion ratio so that gift tax values would become final for inclusion ratio purposes as adjusted in the transferor's estate.
Property tax values from the 2001 grand list (fiscal 2003 budget) are barely above 1997 levels; however, initial results of the October 2002 grand list property revaluation indicate a 35% increase which is still subject to appeals.