Form L-4035a - Taxable Value Calculations 1998

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Michigan Department of Treasury, PTD
L-4035a
3128 (Rev. 1-98)
1998 TAXABLE VALUE
Petition No. ___________________
CALCULATIONS
This form must be completed by the Board of Review (B of R) and made part of the
Board of Review Record whenever a change is made to an individual parcel of real
property which causes Taxable Value to change.
Complete Section 1 if the B of R changes Capped Value.
SECTION 1
By Assessor
By B of R
1997 Taxable Value
=
Amount of Losses
=
(See page 11 and 12 of STC Bulletin #3 of 1995 for formulas)
Amount of Additions
=
(See page 6 - 11 of STC Bulletin #3 of 1995 for formulas. IMPORTANT: See STC Bulletin No. 3 of 1997 for changes to
formulas for Replacement Construction and Occupancy Rate).
1998 Capped Value
= (1997 Taxable Value - Losses)
X 1.027
+ Additions
= ( _______________ - _______________) X ______________ + ________________
By B of R
=
1998 Capped Value
=
Complete Section 2 if the B of R changes Assessed Value.
By Assessor
By B of R
SECTION 2
1998 Assessed Value
=
1998 Tentative SEV
= 1998 Assessed Value X 1998 Tentative Equalization Factor
= _____________________
X
_____________________
= _____________________ by B of R
1998 Tentative SEV
= _____________________
1998 Tentative Taxable Value is the lesser of the 1998 Capped Value or the 1998 Tentative SEV.
1998 Tentative Taxable Value
= ______________________
Signature of Secretary, Board of Review
Date

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