42-200.H. Net Market Value

Table of Contents

The Net Market Value section includes the following information:

 

Topic

Net Market Value

Real Property Market Value verification

Encumbrance

Out-of-Country Property

 

 

 

Net Market Value

 

Net market value for real property is determined by obtaining the current property tax statement identifying the market value (land value plus improvements value) and subtracting allowable encumbrances.Homeowner exemptions are not allowed against market value.

Real Property Market Value verification

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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If a current tax statement is unavailable, the Human Services Specialist (HSS) can verify market value by the following methods:

 

Assessment Information - may be obtained by calling the County Assessor office at (619) 236-3771.By providing a name and/or address, the HSS can obtain:

  Ownership;

  Land value;

  Improvements value; and

  Parcel number, etc.

 

Assessors Property System - may be accessed through the selected Family Resource Center personnel.

 

Tax Collector Information - May be obtained by calling the County Tax Collector office at (619) 236-3121.By providing an address or parcel number, current taxes and a copy of the current tax bill can be obtained.The tax bill contains information such as:

  The assessed market value of the property;

  Current taxes;

  The document number of the recorded deed; and

  The date of recording.

 

Case documentation of phone verification must be recorded in the County Use section of the SAWS 2/CW8/CW8A or the case comments.

 

Out of county or state assessment information, if not available from applicant/recipient documents, may usually be obtained by a phone call to the appropriate Assessorís office.

Encumbrance

 

 

 

 

 

 

 

 

 

 

 

 

 

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Allowable encumbrances on real property include:

 

  Mortgages

  Notes

  Deeds of Trusts

  Payment Receipts

  Loan payment balances

  Delinquent tax liens

  Mechanics liens

  Assessments

  Unpaid balance on property

  Amount of aid paid during nine-month exemption period.

 

Acceptable documentation of these encumbrances includes any document which states the current (within one year) encumbrance balance.Encumbrances do not include those incurred when the property is used as security for a loan to another party or those incurred on property interests of other parties in a joint tenancy.

Out-of-Country Property

 

 

Evaluate the availability of the property.If the property meets the definition of availability, the net market value of the property must be determined from market values and encumbrances converted to dollar values (consult a newspaper, library or bank for current exchange rates).If required information is not available from documentation in the applicant/recipientís possession, it will be necessary to contact the American Consulate closest to the property.