02 Jun HOW ARE THE THREE WAYS THAT ASSESSED VALUE IS CALCULATED?
Please visit Miami-Dade’s Property Appraisal Website ( http://www.miamidade.gov/pa/property_value.asp ) and answer the following questions in your own words. For each of these, make sure to provide an example in lay terms, so that someone who is not familiar with property valuation or finance can understand:
What is “property value”, and how does it work? What comprises how property values are determine? Please elaborate on each of the three ways and provide an example. How are the three ways that assessed value is calculated? Provide an example which will help someone who is unfamiliar with the topic to understand. What is “taxable value”, and how is it calculated? Provide an example.
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