Decline in Value definition

Decline in Value concept means the current full cash value of real property (as of the lien date) is lower than the base year value trended. This is sometimes referred to as Prop 8. An application based on a decline in value is only effective for the one year appealed.
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Decline in Value means the current full cash value of real property (as of the lien date) is less than the base year value trended by the inflation factor.
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Decline in Value means the current full cash value of real property (as of lien date) is less than the base year value trended by the inflation factor. (Also referred to as a Prop 8 value – RTC section 51 (a))
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Examples of Decline in Value in a sentence

  • Evidence must be presented at the hearing; do not attach hearing evidence to this application.A Decline in Value appeal means that you believe the market value of the property on January 1 of the current year is less than the assessed value for the property.

  • If you select Decline in Value, be advised that the application will only be effective for the one year appealed.

  • Some properties enrolled in the Decline in Value Assessment Program may see an annual increase in assessed value—called “restoration” to factored baseyear value—of more than two percent.

  • When the market value is the lesser value, the Decline in Value Assessment Program (Proposition 8) allows for a temporary reduction in assessed value until market value rises to meet its pre-fall value.If a property is enrolled in the Decline in Value Assessment Program, its assessed value is subject to annual review in subsequent years in light of current economic and market factors.

  • Decline in Value appeals: Comparable sales used as evidence for a regular assessment must be no more than 90 days from the Lien Date (January 1) of the year in which you are appealing, For example, a FY 2005-06 appeal filed between July 2 and September 15, 2005 must contain evidence (comparable sales, appraisal, etc.) which is not more recent than March 31, 2005.

  • The Decline in Value Program provides temporary property tax relief to properties for which their current market values have fallen below their assessed values.Generally, property is assessed at the lesser of two values: (1) the factored base year value (typically the purchase price adjusted annually for inflation, not to exceed 2 percent per year) or (2) the current market value on January 1.

  • Decline in Value appeals: Comparable sales used as evidence for a regular assessment must be no more than 90 days from the Lien Date (January 1) of the year in which you are appealing, For example, a FY 2015-16 appeal filed between July 2 and September 15, 2015 must contain evidence (comparable sales, appraisal, etc.) which occurred before January 1, 2015, but not later than March 31, 2015.

  • An appeal based on this issue is sometimes called a Proposition 8 or Decline in Value appeal.

  • The excess of carrying value of inventories over their estimated recoverable value is recognized as impairment loss under “Provision for Decline in Value of Inventories” in profit or loss.

  • However, interest rate fluctua- tions of debt with no fixed interest rates, and new borrowing and debt due to changing financial conditions and other factors could affect the Group’s performance.(3) Decline in Value of InventoriesIf the asset value of inventories held by the Group should decline due to decreased profitability, this could affect the Kobe Steel Group’s performance.

Related to Decline in Value

  • Knock-in Value means the Underlying Reference Value.

  • New value means (i) money, (ii) money's worth in property, services, or new credit, or (iii) release by a transferee of an interest in property previously transferred to the transferee. The term does not include an obligation substituted for another obligation.

  • Worst Value means, in respect of a ST Valuation Date, the RI Value for the Reference Item(s) with the lowest or equal lowest RI Value for any Reference Item in the Basket in respect of such ST Valuation Date.

  • Contribution Value means the fair market value as reasonably determined by the General Partner of property (other than cash) contributed by a Partner to the Partnership (net of liabilities secured by such contributed property that the Partnership is treated as assuming or taking subject to pursuant to the provisions of Section 752 of the Code).