If the base year period is July 2006 – June 2008, how can you say my home is 25% complete when they had not even broken ground on my home back in June 2008?
The value shown on your Notice of Valuation is based on the condition of the property as of the assessment date of January 1, 2009, not as it existed on June 30, 2008. Therefore, if the structures being built on the property were in a 25% complete stage as of January 1, 2009, the property is considered 25% complete for 2009. But my house wasn’t built on 6/30/04. Your assessment is based on its status of your property as of January 1, 2009, and valued according to what it would have been worth on June 30, 2008.
