Get the free STATEMENT OF ADJUSTED VALUE - State of New Mexico

STATE OF NEW MEXICO TAXATION AND REVENUE DEPARTMENT Property Tax Division LTD 51021 INT. 01/09 STATEMENT OF ADJUSTED VALUE Affordable Housing Valuation Adjustment To be completed by the County Assessor

How to fill out statement of adjusted value

How to fill out a statement of adjusted value:

1. Begin by gathering all the necessary information and documents that will be needed to accurately complete the statement. This may include property appraisal reports, purchase agreement details, renovations or improvements made to the property, and any other relevant documentation.
2. Start by providing the basic information about the property, such as the address, legal description, and owner's name. This will ensure that the statement is properly attributed to the correct property and owner.
3. Next, outline any changes or adjustments that have been made to the property since its last appraisal or assessment. This may include renovations, additions, or other physical improvements that can impact the value of the property. Be sure to include dates and descriptions of these changes.
4. Include any supporting documentation or evidence that can substantiate the adjustments made. This could include invoices, receipts, contractor estimates, or photographs of the property before and after any improvements. These documents will help validate the adjustments made and demonstrate the rationale behind them.
5. Calculate the adjusted value of the property by considering all the adjustments made and their impact on the overall value. This may involve using a specific formula or method provided by your local taxing authority or appraiser. Make sure to clearly show all calculations and provide a final adjusted value figure.
6. Review the completed statement for accuracy and clarity, ensuring that all necessary information is included and that no errors or omissions are present. It's always a good idea to have another set of eyes review the statement as well to catch any potential mistakes.

Who needs a statement of adjusted value:

1. Property owners who have made significant improvements or changes to their property and want to ensure that their property taxes or assessments accurately reflect the current value.
2. Individuals or businesses involved in real estate transactions, such as buyers, sellers, or lenders, who may need a statement of adjusted value to establish the fair market value of a property.
3. Government agencies or local taxing authorities who rely on accurate property assessments to determine tax rates or allocations.

In summary, filling out a statement of adjusted value involves gathering relevant information, documenting any changes or improvements made to the property, providing supporting evidence, calculating the adjusted value, and reviewing the statement for accuracy. This statement is necessary for property owners, individuals involved in real estate transactions, and government agencies relying on accurate property assessments.

For pdfFiller’s FAQs

What is statement of adjusted value?

Statement of adjusted value is a document that reports the adjustments made to the assessed value of a property by the local tax assessor.

Who is required to file statement of adjusted value?

Property owners are required to file statement of adjusted value with the local tax assessor.

How to fill out statement of adjusted value?

Statement of adjusted value can be filled out by providing accurate information about the adjustments made to the assessed value of the property.

What is the purpose of statement of adjusted value?

The purpose of statement of adjusted value is to ensure that the property is assessed at its correct market value for tax purposes.

What information must be reported on statement of adjusted value?

The statement of adjusted value must report any changes in the property's value, such as renovations or additions.

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