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NOTICE OF PROPERTY VALUE



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View March 15, 2008 - NOTICE OF REVISED PROPERTY VALUE
View February 15, 2008 - NOTICE OF REVISED PROPERTY VALUE
View January 15, 2008 - NOTICE OF PROPERTY VALUE
View April 27, 2007 - NOTICE OF REVISED PROPERTY VALUE
View February 16, 2007 - NOTICE OF REVISED PROPERTY VALUE
View January 15, 2007 - NOTICE OF PROPERTY VALUE
View April 28, 2006 - NOTICE OF REVISED PROPERTY VALUE
View January 15, 2006 - NOTICE OF PROPERTY VALUE
View February 18, 2005 - NOTICE OF REVISED PROPERTY VALUE

What is the Notice of Value?
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January 15, 2005
25 55 CORP ORSID REALTY Property Address:
ORSID REALTY CORP. 102-25 67 ROAD
1740 BROADWAY Borough Block Lot
NEW YORK NY 10019-4315 QUEENS 2134 50
Tax Class: 2
Units: 144 residential
CURRENT TAX YEAR CHANGE TAX YEAR 2005/06
(7/1/04 - 6/30/05) (7/1/05 - 6/30/06)
The Department of Finance estimates the value of your property as follows:
 Market Value =                      $6,030,000           +300,000           $6,330,000
 Actual Assessed Value =             $2,713,500           +135,000           $2,848,500
 Actual Exemption Value =               $75,076            +22,896              $97,972
 Transitional Assessed Value =       $2,415,600           +144,000           $2,559,600
 Transitional Exemption Value =         $73,959            +22,930              $96,889
 Taxable Value =                     $2,341,641           +121,070           $2,462,711
Exemptions: SENIOR CITIZEN, ENHANCED STAR, BASIC STAR

Market Value: Finance estimates your market value in one of three ways - based on recent comparable sales; the income that your property generates; or the cost of constructing your property.
Assessed Value: Finance multiplied your property's market value by an assessment ratio of 45% in order to determine the assessed value. However, in some cases, this assessed value may be lower than the assessment ratio percentage because of legal limitations.
Exemption Value: Is the value of any exemptions currently on Finance's records.
Taxable Value: Is equal to the assessed value less any applicable exemptions.
Exemption(s): Describes the exemptions that you are currently entitled to according to Finance's records.
THIS IS NOT A BILL

DETAILED VALUE INFORMATION

Building Class: D4 - Elevator apartments
Market Value: Finance estimated your property's market value by dividing net operating income by the overall capitalization rate. Any difference between your calculation and that of the Department of Finance is due to rounding.
  • The Department of Finance estimates that as of January 5, 2005, the market value for your property is $6,330,000.
    Finance will use this market value to determine your property taxes starting July 1, 2005.
  • Finance estimated your property's market value using the income approach.
Factors Used By Finance To Determine Market Value:
  • Building Gross Square Footage: We estimated building gross square footage at 127,416.
  • Gross Income: We estimated gross income at $1,641,118.
  • Expenses: We estimated expenses at $763,221.
  • Net Operating Income: We subtracted estimated expenses from estimated gross income, resulting in a net operating income of $877,897.
  • Base Cap Rate: We used a base capitalization rate of 8.320% which is Finance's estimate of the rate of return that an ordinary investor would expect on their investment in this type of property.
  • Overall Cap Rate: We added an effective tax rate of 5.550% to account for taxes due. Added together your overall capitalization rate is 13.870%.

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