Application for re-roof-1997 - no permit on file

Home Browse Search

�OST`O£I14�PRO�EiV1ENT�S THE V�1I:LE TNCRE�SE TO THE:PROP:ERT`I� ... ..... .. . ; .:.. .....:::. .:. Although the cost of improvements may be substantial, the actual value added can be significantiy (ess. This can be largely attributed to three factors: • Often times, improvements made to a house, particularly an older house, constitute routine maintenance.and do not cause the valuation to increase. Reshingling a roof, painting the house, repairing a foundation, replacing a plumbing fia�ture are all examples of improvements that would not ordinarily result in a value increase. • Improvements made to an individual's home often times reflect that particular individual's persona.l likes or interests and most times the cost cannot be recoveretl when a property is sold. Adding a sauna, a greenhouse or an indoor sw�imming pooI would all be examples of improvements that typically add less vaIue than their cost. • Improvements made to different areas of a house typically result in greater or]esser returns. It is a well established appraisal principal that remodeling or improving a house's service areas (kitchen, laundry and bathroom)will�enerally yield the greatest return to the ow�ner. Expenditures such as finishing basements or attics will�eneraily produce the smallest return. Although these considerations mav vary from house to house and market to market, in almost no instance is it possible to receive a dollar for C�llar return behveen cost and value added to the house. ,:. >.<:�: � ......:..... :SALE;�R TRA�SF�R OF O�YNERSHIP OF PROP�RTY . _ : . . ........ . . . .......... :... :.......:. .>.. Under the law, a property owner must disclose to prospective buyers whether any improvements made to a home are ezempt from the property tax. Additionally, sellers are also required to notify buyers that the exemption will terminate when the property is sold. If you sell your property, only improvements made b��the buyer afrer the closing date of the sale are eligible for the eYemption. If the property loses its homestead status the esemption e�pires as of the ne�t assessment date. If the name of one of the owners of the property is removed from the title to the property as a result of a separation or divorce, or if a name is added to the tit;e of the property as a result of a marriage, the improvements continue to qualifi� for the exemption. If you transfer the titIe to the property to someone else, but retain a life estate in and continue to receive the homestead classification on the proper[y, the improvements continue to qualif��for the esemption. If you transfer title to a related person or persons as a gift or inheritance, the exemption e�pires as of the neYt assessment date. In general, as lon�as you, the owner of the homestead, made the improvements to the house, maintain the proper[y as your principal residence and retain an o�timership interest or control of the proper[y, the improvements continue to qualify for the esemption. , ..:.< ...:., ;. :;�.; .::.:.. ....;. , : _::.:.....��.�KING:APPI:IC�TION.., : ..::. :. ; ...., ....:, ,,.,.: _: If vou live in a citv or to�z�n that reQuires building permits, }�ou must obtain a buiidina permit for construction of the improvement before the work commences. In addition vou must complete a separate application for value exemption before the next assessment date. If you do not obtain a building permit before construction begins, the improvements are not eligible for exemption. If vou live in a citv or town that does not reQuire building permits, you must mal:e application for exemption before the improvement is begun. The exemption may be applied to no more than three separate improvements made to the house and gazage. r111 improvements listed on a sin�le building permit or an application for the exemption constitute a single improvement. In either case, if more than three separate improvements are planned you must choose�vhich improvements you want to qualify for the exemption. Once an improvement has been designated for e�emption, it cannot be repealed or replaced by a later improvement. If you need additional information, please contact your assessor's office.