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CHAPTER 4 DEVELOPMENT OF LAND VALUE DETERMINATIONS AND TAX MAPS 1. OVERVIEW An assessor is responsible for estimating a land value for every taxable parcel of property which is valued using the cost
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What is development of land value?
Development of land value refers to the increase in the monetary worth of a piece of land due to improvements or changes made to it, such as construction of buildings or infrastructure.
Who is required to file development of land value?
Individuals or entities who own or develop land that has undergone changes resulting in an increase in its value are usually required to file a development of land value report.
How to fill out development of land value?
To fill out a development of land value report, the owner or developer must provide information on the specific changes made to the land, the estimated increase in value, and any supporting documentation or evidence.
What is the purpose of development of land value?
The purpose of development of land value is to assess the increased worth of the land resulting from developments and to determine the appropriate taxes or fees applicable based on this increase.
What information must be reported on development of land value?
The development of land value report typically requires the disclosure of details about the specific improvements or changes made to the land, estimated value increase, and any supporting documentation.
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