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It doesn't 'lower' the property value. However, depending on the location, it may lower its appeal to many buyers. In Michigan, most people don't want the work of a pool for the extremely short swimming season. And often families with little kids and babies steer clear of buying property with such obvious hazards. And they will increase the insurance rates.
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∙ 17y ago
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What is the meaning of zonal value of real property?
Zonal value of real property is a value placed on real estate based on where it is located. If a house, for example, is located in a commercial zone, the value of the property may be lower.
Does installing a new swimming pool change property taxes in California?
Most likely. However, the change in assessed value may not be as much as the cost of installing the swimming pool. Contact your local property assessor to find out how they treat the valuation of swimming pools for assessment purposes.
How is property value effected when there are low income houses in that neighborhood?
Property values are determined by comps and low local comps lower property values.
Does having an outdoor patio add value to a property?
It does indeed add value to have an outdoor patio added to a property. Not only the real estate value, it also increases the enjoyment for your family.
If you purchase a home below market value will your property taxes also become lower than average?
Depends on the assessed value of the house. That is what property taxes are based on. Not what it sold for.
What is an asset of a person?
An asset is some property or right having value owned by a person.
Do property taxes changes when home value decreases?
No. Property taxes do not change when home value decreases. You need to go to the tax collectors office or equivalent and have the value of your property assessment decreased. The government is quick to raise it. The government is in no hurry to decrease it and have you pay lower taxes.
What value would an in ground swimming pool add to my property?
There is no set amount that a pool adds to property, it depends on several factors about your home. Contact a local realtor or appraisal for a good estimate.
How do you fine reconciled market value?
Reconciled Market Value - is the final valuation of a bank owned property after having reconciled various other valuation tools already applied to said property (ie BPO's or other value opinions).
What is the mortgage lending value?
Mortgage lending value refers to the absolute limit up to which a bank is allowed to grant loans. There is also mortgage lending value regulation which defines the mortgage lending value as a percentage of the value of a property. This is a conservative valuation which seeks to determine the long-term lower limit of a property's value.
Do security bars lower property value?
Not in and of themselves, but being in a neighborhood where security bars seem like a good idea does.
Can you request to lower the property tax?
While you can't lower your property tax directly, every taxing district in the U.S. and Canada has a property tax appeal process where the assessed value may be lowered. A lower assessment means a lower tax bill. Mathematically the assessed value is multiplied by the tax rate set by the taxing district to equal the tax amount. There are specific times when new assessments can be appealed, so check with your local assessor about when new assessments are issued and the deadline for filing appeals.
