The Net Market Value section includes the following information:
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.
If a current tax statement is unavailable, the Human Services Specialist (HSS) can verify market value by the following methods:
Information - may be obtained by calling the
∑ Land value;
∑ Improvements value; and
∑ Parcel number, etc.
Property System - may be accessed through the selected
Collector Information - May be obtained by calling the
∑ 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
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.
Allowable encumbrances on real property include:
∑ Deeds of Trusts
∑ Payment Receipts
∑ Loan payment balances
∑ Delinquent tax liens
∑ Mechanics liens
∑ 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.
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.