Untitled Document NYCProperty Home Page Department of Finance Home Page Department of Environmental Protection Home Page NYC.GOV Home Page Select a Borough-Block-Lot Statements List

nyc.gov/finance

NOTICE OF PROPERTY VALUE



View April 15, 2009 - NOTICE OF REVISED PROPERTY VALUE
View April 1, 2009 - NOTICE OF REVISED PROPERTY VALUE
View March 4, 2009 - NOTICE OF REVISED PROPERTY VALUE
View February 19, 2009 - NOTICE OF REVISED PROPERTY VALUE
View January 15, 2009 - NOTICE OF PROPERTY VALUE
View April 25, 2008 - NOTICE OF REVISED PROPERTY VALUE
View March 15, 2008 - NOTICE OF REVISED PROPERTY VALUE
View February 15, 2008 - NOTICE OF REVISED PROPERTY VALUE
View April 27, 2007 - NOTICE OF REVISED PROPERTY VALUE
View March 2, 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 February 10, 2006 - NOTICE OF REVISED PROPERTY VALUE
View January 15, 2006 - NOTICE OF PROPERTY VALUE
View April 29, 2005 - NOTICE OF REVISED PROPERTY VALUE
View March 4, 2005 - NOTICE OF REVISED PROPERTY VALUE
View February 18, 2005 - NOTICE OF REVISED PROPERTY VALUE
View January 15, 2005 - NOTICE OF PROPERTY VALUE

What is the Notice of Value?
(A new window will open.)
January 15, 2008
Owner Name:
#BWNFFBV MITCHELL GARDENS #2 COOP CORP
#5759210080115014#
MITCHELL GARDENS #2 COOP CORP Property Address:
2802 141ST ST 26-20 WHITESTONE EP SR W
FLUSHING, NY 11354-1672 Borough Block Lot
QUEENS 4312 10
Tax Class: 2
Units: 252 RESIDENTIAL
CURRENT TAX YEAR CHANGE TAX YEAR 2008/09
(7/1/07 - 6/30/08) (7/1/08 - 6/30/09)
The Department of Finance estimates the value of your property as follows:
Market Value =                          $10,600,000          +500,000        $11,100,000
Actual Assessed Value =                  $4,770,000          +225,000         $4,995,000
Actual Exemption Value =                   $712,475           +14,097           $726,572
Transitional Assessed Value =            $4,778,600          +239,400         $5,018,000
Transitional Exemption Value =             $714,097           +13,721           $727,818
Taxable Value =                          $4,057,525          +210,903         $4,268,428
Exemption: VETERAN, SENIOR CITIZEN, ENHANCED STAR, BASIC STAR, DISABLED HOMEOWNER

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.
If you wish to challenge these values, you must apply to the Tax Commission by March 3, 2008.
THIS IS NOT A BILL

DETAILED VALUE INFORMATION

Building Class: D4 - Elevator apartments
Market Value: Finance multiplied your gross income by the gross income multiplier to
determine the market value of your property. 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, 2008, the market value for
this property is $11,100,000. Finance will use this market value to determine your
property taxes starting July 1, 2008.
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 260,961.
Gross Income: We estimated gross income at $3,066,291.
Multiplier: We used a gross income multiplier of 3.634 which is our estimate of the
relationship between the property's income and the property's market value.
blank.gif (43 bytes)
blank.gif (43 bytes)

footer  

Statements List | Select a BBL | Logon to NYCProperty