Another Asset Question, I-134

[Nagishkaw 510]

I'am looking at the I-134 and see under question 7, " I own real estate valued at__________".

Are they asking for the TAXABLE VALUE, or the ASSESSED VALUE ? Would it be better to get a market analysis or just use what is on my yearly Notice of Assessment that my city sends me the first of every year? My home is free and clear , no mortgage.

Thanks .

[Yodrak 7]

Nagishkaw,

Neither. Assessed values are often out of date, taxable values are often a multiplier of the assessed value other than 1.

They are looking for market value.

Yodrak

I'am looking at the I-134 and see under question 7, " I own real estate valued at__________".

Are they asking for the TAXABLE VALUE, or the ASSESSED VALUE ? Would it be better to get a market analysis or just use what is on my yearly Notice of Assessment that my city sends me the first of every year? My home is free and clear , no mortgage.

Thanks .

Edited April 9, 2007 by Yodrak

[Otto 83]

I'am looking at the I-134 and see under question 7, " I own real estate valued at__________".

Are they asking for the TAXABLE VALUE, or the ASSESSED VALUE ? Would it be better to get a market analysis or just use what is on my yearly Notice of Assessment that my city sends me the first of every year? My home is free and clear , no mortgage.

Thanks .

Depends on where you live really - some cities are pretty up-to-date on values (such as Austin) since they love their tax money..

Safest bet is to ask a Realtor friend (and they're all your friend ) to do a CMA (comparative market analysis) for you - only take a few keystrokes and doesn't cost them anything. It will give you your closest value to date (usually) - plus once you have it, you can see if the city is taxing you correctly..

Free and Clear? Ohhh...Envy..Envy Envy...

Edited April 9, 2007 by Karin und Otto

[Nagishkaw 510]

Yodrak,

Thank you again for the fast reply. Your the best!

Karen und Otto,

Thanks for the tip. Don't be envious, this place ain't all that. Certainly I will look into your suggestion.

[Nanusia & Lukaszek 0]

I'm a realtor, and I can tell you to use part time. You do not need a CMA to enter the value of your home on the sheet. Most people know what their home could sell for. If you don't, check out www.realtor.com and find a home similar to yours, and use that value.

[Nagishkaw 510]

I'm a realtor, and I can tell you to use part time. You do not need a CMA to enter the value of your home on the sheet. Most people know what their home could sell for. If you don't, check out www.realtor.com and find a home similar to yours, and use that value.

Thank you! I will search now.