Yes, sometimes they can. A property may be subject to so many restrictions as to have no real value. Common area in a residential or commercial development is a potential example. The argument would be that any value associated with the common area should be included in the value of individual lots or condominium units. See, e.g., Waterville Estates Association v. Town of Campton 122 N.H. 506 (1982), in which the New Hampshire Supreme Court ruled that condominium common a

The demand for real estate in a given location may affect the prices that are properties are sold for. There can be many reasons that a certain region of a town is more desirable than other areas. Most commonly developing a shopping center, apartment complex, or a community civic center is the rationale for the buyer over paying for other pieces of real estate. Assemblage is the real estate practice where the buyer will purchase two adjacent lots or an entire neighborhood for

When tax bills are sent to property owners many people don’t understand exactly what they are paying. Property taxes are a main source for municipalities to generate income that supports the major services provided to communities. Many taxpayers are not aware what the tax rate for their local municipality actually is. The mill levy is really what tax rate is levied on a given property value. One mill represents one-tenth of one cent which equates to $1 for every $1,000 of ass

When property owners receive their final tax bills for the year in November or December; they may not agree with the amount to be paid. Although this can be frustrating, things can be done to alleviate this burden, because every state gives property owners the opportunity to challenge the amount of taxes levied upon them; but few actually take action and file a tax abatement. This is due to the fact that this right is not publicized enough, which means there are numerous tax

Many property owners are always looking for ways to increase the value of their real estate without completing major renovations. Here are five ways property owners can increase the worth of their property without hiring a professional contractor. 1. Increase the rent Multifamily properties are prime candidates for easily increasing value by increasing the rent. If the rental income is lower than desired, a minor increase can add considerable value to the property, especially

Most property owners have the basic knowledge of how property taxes are determined, but many are not really aware of the intricacies of how their tax bill is actually calculated. Here are three important things for taxpayers to remember when it comes to real estate taxes: 1. Municipalities across the nation return millions of dollars each year to taxpayers who understand what it takes to request a reduction on their property taxes. Taxpayers should really only apply for a tax

Many people decide to invest in real estate and being wealthy is not necessarily a requirement. When someone buys a house they are now considered a property owner, tax payer, or even a small investor. Purchasing a home for most people is an investment in their future; and knowing the tax laws can make a significant difference in the return on investment, if it is to be sold at a later date. Real estate taxes are a primary source of income for many local governments, yet they

A real estate tax abatement application offers taxpayers the opportunity to obtain a reduction on their property taxes. The local taxing authority for which a given property is located, has its own set of guidelines for how a property is assessed. When taxpayers receive their new tax bills for the following year, it should be thoroughly reviewed and see if the potential is there, to take advantage of a property tax savings. Taxpayers may file for an abatement if they believe

New Hampshire is just one of the many states in the U.S. where filing a tax abatement application puts the burden of proof on the tax payer. The tax abatement process can be confusing and cumbersome, but the following timeline will help all parties involved be more readily prepared. Prior Tax Year April 1 – This is the valuation date for all real estate in a given municipality. Current Tax Year March 1 – This is the deadline for property owners to file a tax abatement for the

The majority of taxing jurisdictions in the United States agree that penalties and interest must be applied to unpaid property taxes.

If property owners conclude the equalized assessed value of their real property exceeds the fair market value, the owner should file for a p

Real estate appraisers and valuation professionals generally calculate property valuations using the three different methods of value: the c

Real estate appraisals are objective analyses and valuation of certain tracts of land, buildings, and/or other property for the purpose of a

When deciding what to offer for a commercial or residential property, you need to estimate your carrying costs.  When there is doubt, you probably estimate on the high end, which may cause you to offer too much and lose out on a potentially good investment. Real estate taxes often make up the largest non-financing expense, so an accurate prediction of taxes extending into future years- also called property tax forecasting- is crucial.  There are two components to calculating

Considering filing an appeal of your real estate taxes? Read on to see if you are a good candidate to file a property tax abatement or prope