The Central Appraisal District of Collin County identifies property to be taxed, determines its appraised value, whether to grant exemptions, the taxable owner and address, and which taxing jurisdictions may tax the property. For information on VALUES, to file an EXEMPTION, or to report changes in OWNERSHIP or ADDRESS, please call the Central Appraisal District of Collin County at 469-742-9200.

The Assessor must comply with the property tax code. Pursuant to 7-36-16 NMSA 1978, the Assessor values property at current and correct values, based on sales of property from the previous year

The assessor is required by state law to value property at 100 percent of its market value as determined by sales of comparable property.

The actual value assigned to residential properties in 2005 and 2006 was based on market values as of June 30, 2004, as defined by sales of residential property in the 18-month period from January 1, 2003, to June 30, 2004. For nonresidential property the cost, market and income approaches to value are all considered. Up to five years of market activity are analyzed for nonresidential properties.

The purpose of the Limited PROPERTY Value (LPV) was to create a hedge against inflationary increases in the market value of the property. The calculations by law limit the amount of increase that can occur from one year to the next. Limited Value is the one used against the Primary Tax Rate, which is the larger of the two tax rates (see WHAT ARE PRIMARY AND SECONDARY TAX RATES ?). The Limited Property Value is determined by law.

The Wichita Appraisal District identifies property to be taxed, determines its appraised value, whether to grant exemptions, the taxable owner and address, and which taxing jurisdictions may tax the property. For information on VALUES, EXEMPTIONS, OWNERSHIP or ADDRESS, please call the Wichita Appraisal District at (940)-322-2435. The Wichita Appraisal District can also be accessed through their website, the address is http://www.wadtx.com/.

In some states, the local tax assessor determines the assessed value of a property, and uses that value to calculate the amount of tax to be paid. In other regions, there is an automatic inflation percentage added to the market value, which is the sale price of the home.

A property owner must be sent a notice of valuation (NOV) every year. This notice must be mailed no later than May 1. In the language of the notice is stated the actual value that the assessor has assigned to your property. This notice of valuation is not a tax bill. The purpose of this notice is to inform you of any change in your property valuation and advises you of your right to appeal the value.

Full fair market value is the amount a willing buyer would pay a willing seller for the property on the open market, with neither the buyer nor the seller acting under duress. What this means is ODOT will pay you the value you would expect to receive if you were to put your property up for sale on the open market. In most instances the value is computed by determining what similar properties in your neighborhood have been selling for over the past couple of years.

The Assessor is required to annually assess most taxable personal property at 100% of its lien date, fair market value. In order to determine that fair market value, the assessor employs a number of methodologies. For example: The Assessor often relies on various trade publications and 'Blue Books' that provide current, open market sales price and/or cost data for various types of both new and used equipment, vehicles, aircraft and boats.

appraisal is a professional estimate of a property's market value, based on recent sales of comparable properties, location, square footage and construction quality. This service varies in cost depending on the price of the home. On average, an appraisal costs about $300 for a $250,000 house. A comparative market analysis is an informal estimate of market value performed by a real estate agent based on similar sales and property attributes.

Your vehicle's actual cash value is what your car is worth on the open market before the accident. It is determined by comparison to similar vehicles in the same condition as yours or by a pricing service that has information about auto prices in the local market. Condition, equipment and mileage are taken into consideration.

If your property does get damaged, destroyed or stolen, the insurance company will use one of two ways to determine its value: Actual Cash Value - The replacement cost of the item minus depreciation. For example, a new television set may cost $500. If your 7-year old TV set gets damaged in a fire, the value might have depreciated 50%. Therefore, the amount of your coverage for that item would be $250. Replacement Coverage - The cost of replacing an item without deducting for depreciation.

Looking in the local newspapers for similar properties in your area will give you an indication of the value of your home. There are also several websites you can visit to see the actual prices paid for properties in your area and when those properties sold. Compare your home with those you find in your area and adjust the price accordingly. This is all the Estate Agents do.

The property value is the same as the property fair market value and is usually established by the property appraisal. If you do not have an appraisal for the property, a realtor may be able to assist you in determining the value or you may consult the county property assessment records.