§ 11-207.1 Information related to estimate of assessed valuation and notice of property value.
AC § 11-207.1
a. Not later than the fifteenth day of February, the commissioner of finance shall submit the following information relating to the estimate of the assessed valuation of real property for the ensuing fiscal year to the mayor and to the council, and publish such information on the website of the department: (1) a distribution by relevant geographies and buildings types of the factors used in determining market values such as incomes, expenses, and rates of capitalization. The distribution should provide, at a minimum, the first, second and third quartiles of such factors; (2) specific formulas, data sources, and values used to determine the rates of capitalization for real property valuation; (3) average values and changes of incomes and expenses, as reflected on the statements required to be filed pursuant to section 11-208.1 of this code; (4) a statistical summary of the changes in the total market value and assessed value for each property tax class and property category from the assessment roll of the previous year; (5) a statistical summary of equalization and non-equalization changes from the assessment roll of the previous year; and (6) the method of valuation used for each property listed on the estimate of the assessed valuation of real property subject to taxation for the ensuing fiscal year, and the information used to determine such valuation. b. The notice of property value sent by the department to an owner of real property shall inform such owner how to access additional information on the website of the department regarding valuation of the subject real property, including the factors used by the department to determine the market value of such real property. The notice of property value shall include the address of such website. Such information shall be made available at least thirty days prior to the final date for filing any appeal. Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 2013/052.
