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  • Is a vehicle property tax the same thing as car registration fee? - Intuit
    Nevertheless, if the fee is value-based and assessed on a yearly basis, the IRS considers it a deductible personal property tax Identifying value-based portion Depending on your state, it might not be apparent whether a portion of your car registration is value-based or how to identify what portion of the fee qualifies for the deductions
  • How do I find the land value and improvement value of my property from . . .
    I can't figure out the land value and improvement value of my property I've got a copy of my tax bill, but they don't use the same terminology My tax bill gives me a combined (land building) limited property value and a full cash value and an assessment ratio Am I able to use those to figure ou
  • My property tax bill shows my real assessed value. Is this considered . . .
    The real assessed value, is the value that is assigned to your property This amount is used to calculate your property taxes The amount includes both the land and any structure attached to it If you can't locate the land value itself within your documents, contact your local county assessors' office (Call your Local City Hall)
  • How do I find the land value of my condo? - Intuit
    The Notice of Property Value from NYC does not mention Land Value anywhere It only shows: Market Value, $336,675 Assessment Percentage, 45% Actual Assessed Value, $151,504 Transitional Assessed Value, $143,779 Exemption Value, $2,450 Taxable Value, $141,329 The Market Value of your lot was derived by attributing a portion of the total
  • Where do i find the appraised property value on my tax statement - Intuit
    On my property tax statement it is labeled "estimate market value" If you don't have that statement in hand, you may be able to find it online In the state I live in, maybe in every state, such information is public information
  • Determining fair market value (FMV) of inherited property - Intuit
    A certified appraisal is best There is an argument (mentioned by the others) that the selling price is proof of fair market value Selling price of an asset is the definition of FMV at the time of the sale, of course, provided the sale is an arms-length transactio
  • Can someone give me a very precise answer about what to enter . . . - Intuit
    Property Improvement Property improvements are expenses you incur that “better” the property Basically, they retain or add value to the property Expenses for this are entered in the Assets Depreciation section and depreciated over time Property improvements can be done at any time after your initial purchase of the property
  • I need to determine the land value of my rental property (just . . .
    If on your property tax bill it shows a tax value of $20,000 for the land and $80,000 for the structure, that's a total tax value of $100,000 So 20,000 divided by 100,000 equals 0 2 meaning the land value is 20% of it's total tax value
  • Solved: How do I calculate my land value and improved value . . . - Intuit
    " The part of the cost that you allocate to each asset is the ratio of the fair market value of that asset to the fair market value of the whole property at the time you buy it If you aren’t certain of the fair market values of the land and the buildings, you can divide the cost between them based on their assessed values for real estate tax
  • TurboTax is asking for land value on my home, but that language does . . .
    It's called depreciation and is supposed to represent the "wear and tear" on the property The catch is that land does not suffer "wear and tear " So you cannot depreciate the value of your land Typical assessments will separate the land value and the value of the "improvements" or structures (mostly)





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