Tuesday, June 13, 2017

Finding Advice On Picking Out Indispensable Details For Holiday

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Stanaland said. But “the reassessment is limited to how much the improvement increased the property value,” said Cameron Hess, a partner in the Northern California law firm of Wagner Kirkman Blaine Klomparens & Youmans. “The whole property will not be reassessed,” Mr. Stanaland elaborated “The base year assessed value will be increased only by the additional value that the guesthouse adds to the property.” You would want to be vigilant about that. Mr. Hess said that over-assessments occur when the assessor uses the total cost for new construction as the increased value rather than the value that the new construction adds to the property. They also happen when the assessor’s office determines an increase in land values by using the value of additional land in comparable property sales, with and without a second unit. More:  Which Caribbean Islands Have the Best Tax Rates for Vacation Homes? Over-assessments also occur when the addition is not a legal second unit but is merely an addition. For example constructing a pool house or casita, would maintain the property, legally, as a single-family residence. The best way to establish value, Mr.

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