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That is, if they do not plan to reassess for another few years, during which property values appreciate, then they may overassess the property in anticipation.
the basis of small-stakes class actions, were designed to overassess
Estimation results indicate that on average structural improvements are overassessed by about 22%, though this does not imply that the property itself is overassessed (the land may be underassessed).
The state department has said it overassessed the value of property of the computer chip manufacturer in recent years.
for the production of weaponry after the owner dramatically overassessed
Without insight into current real estate market conditions, your properties may be overassessed, and you may be paying more real estate taxes than are appropriate.
"Never has been overassessed - I don't share the handicapper's flattering opinion of the horse, even though I am probably fonder of the horse than he is.
Wilson estimates a majority of downtown North Bay commercial properties are "100-per-cent" overassessed and cites one property being assessed at $189,000, which sold for $55,000, another assessed for $290,000 and sold for $140,000.
``People say children are overassessed but that's because they are doing lots of high stakes tests which means high pressure.
If the real estate market declines sharply during the revaluation or soon after, the County will once again face angry and overassessed property owners.
This property is clearly overassessed. The value developed for assessment purposes, $4,615,385, should be equal to the value of the owner's equity ($1 million effective gross income minus operating expenses of $400,000 minus correct real estate taxes of $138,461 equal $461,539, which, when capitalized by 0.10, yields $4,615,390).
Another example involves the situation where the statute of limitations for filing a claim for refund on an underpayment year has expired and the amount of underpayment interest was overassessed and overpaid; in such a case, the taxpayer would not receive overpayment interest in excess of the amount that would have been paid on the overpayment at the statutory underpayment rate.