What is the Meaning & Definition of the fiscal value of property
In the economics and financial operations, it regards the fiscal value of a property as the one resulting from the relationship between several variables and which has close ties with the tax on property or building in a given State or municipal context.
It is important to begin by defining what is meant by property. In opposition of movable, real estate are those that cannot travel without prejudice about them sometimes, in so far as their mobility is reduced as part of a land which are part. Among these, are considered to houses, buildings, houses of all kinds, farms, stays or similar and, in some cases, ships and aircraft in particular.
In that sense, the fiscal value of each property is understood as economic value, which is assigned to it by an agency of State order through various assessments and indices. In each context this can occur in different ways, but is often a shared methodology that facilitates the tax assessment on massive scale. The allocation of tax value aims to constitute a baseline for the payment of taxes on the real estate and, in turn, can be used in the research on the real estate composition of a territory in particular.
Often, the methodology that determines the fiscal value of the homes and buildings is calculated on the basis of the value of the Earth and of the value of the property in question. Built up terrain, like a vacant lot can also rating is thus, and here the consideration will be given by including surface, the basic unit value and other indicators of economic situation.
Article contributed by the team of collaborators.