Assessment - the assessment of housing

The purpose of this article is to methods for evaluating different types of atypical housing. Different circumstances and situations may lead to an apartment complex for over-or under-market prices, availability and operating costs. The analysis examines the following two circumstances: 1. low-income, subsidized housing, where the market price of HUD or other government agencies, and 2nd Projects that are in the low-income Housing Tax Credit (LIHTC) program. The LIHTC program was presented by the U.S. Congress to promote the development of affordable housing in economically disadvantaged areas. Development project to receive a tax credit for the following guidelines for the program. In general, the sale of such loans to Fortune 500 companies and 45% to 60% of the total project cost, without land. The first phase of assessment, analysis of market definitions. The following is the definition of the Texas Property Tax Code, Section 1.04 (7): the market value is the price at which the building would be to transfer money or its equivalent in prevailing market conditions if: a. displayed for sale on the open market with reasonable time for the seller to a buyer, b. the seller and the buyer aware of all personnel and access to where the property is, and for which they are used and the application of restrictions on its use and v. the seller and the buyer attempt to maximize their profits and are not able to use them, the needs of others. (B) of the Texas Property Tax Code required the value of the real estate market is through the application of valuation techniques generally accepted, and the same or other valuation techniques are assessing the same types of buildings. But all property is assessed on the basis of individual characteristics on's market. The definition of market value for the 10th edition of the assessment of real property in 1992 with the assessment of 'Institute is the market value is the price most likely, as a time, in cash or in La Cassa - or others have been exactly the conditions of sale, should be after exposure to a competitive market under all conditions necessary for a fair sale, the buyer and seller are well informed and precautions for their own interest, and assuming that it is unacceptable under pressure . The term, revision of the definition above is "well-informed." If the acquirer of knowledge about the efforts that are needed for the program of social housing and tenants? Works for the lease of property or compensation for services? If the purchaser is a maximum LIHTC rents that are now at least 15 years on the basis of entry into force of the restrictions (LIHTC sense, the restrictions are in force for 30 years in Texas and most other countries.) Fee simple estate is the third edition of the Dictionary of Real Estate Appraisal Institute of assessment: the freehold interest or other property, that the limits imposed by the government in matters of taxation, eminent domain, police power and escheat. Practice in Texas is the basis for assessing the value of the value of the fee simple estate, as opposed to leased lines Estate Tax. The analysis is based on the assessment of real estate on lease instead of the fee simple Estate. The definition of leased line costs in the third edition of the Dictionary of Real Estate Appraisal is a holder of rights of use and occupancy of the lease to third parties. The rights of the lessor (owner of the theme of the cost of hiring) and the tenant are clauses in the lease. The essential difference between the tax and fee leases Summer Summer is the landlord and the tenant are to fulfill their obligations to pay rent and their use for the construction of a mandate. The lease agreement between landlord and tenant may or may not, even on the market for leasing. For example, if an owner with a 30-year lease for the rental of $ 5 per square foot of 15 years ago (in the case of market rent was $ 5 per square foot) and the current market situation l ' rent is $ 10 per square foot, the tenant of an advantage. The tenant has a lease, which may not have a value depending on the duration of the lease, rental and lease contract. The Dictionary of Real Estate Appraisal rent defined as participation by the lessee (tenant or landlord), through a lease agreement for the right to use and employment for a period explained, under certain conditions. Conversely, if the holder of a lease of $ 15 per square foot in a strong market presence 10 years ago and is committed to pay the rent for more than 10 years, there is considerable benefit to the lessor and the lessee has a rental property, with a negative value. Practice, it is in Texas, estimated on the basis of the fee simple Estate in place of the estate tax. Thus, the criteria for determining the market value of the rental market, market and labor market and the wholesale market price. If a taxpayer a bad decision by the company 10 years ago and has seriously under-market leases, it is not right for the taxation of businesses to reduce their tariffs to ad valorem taxes because of the decision of business owners. Conversely, if an owner or a random wise business decision and more a market of leasing, it is not appropriate for a level higher than the tax value of the customs to him, because he has a chance or caution. Market rent is determined by the third edition of the Dictionary of Real Estate Appraisal that the rental income that the property is likely to command the market, the average rent for the space and asked the time of evaluation. Market rent is the remuneration for the use of property. Do not pay for other factors, besides the use of real estate as additional services that are not in general. The next step in this process is the assessment of the properties of the programs funded to receive market prices. The last step is the evaluation of projects in the LIHTC program. The assessment of housing This analysis is also the profit and loss account and the sale of comparison for evaluating approaches. The price is not reached, as similar results after calculating the outside due to the obsolescence of the differences in rental prices. Income: Housing, a social housing programs can not, the market price. For many years, the market price-HUD incentive for owners to participate. There are two reasons for the payment of a HUD-market rent: 1. to offset the disadvantages of using a program, the government bureaucratic mandates detailed testing generally is not necessary in the private market and 2nd compensation for working with people who are usually at the level of social class in our society. It was not uncommon for HUD contract to pay rent of $ 0.70 to $ 0.80 per square meter per month for projects of social housing, although the rental market for the projects may compete only $ 0.45 to $ 0.50 per square meter per month. Rental and sale of comparison, in this analysis are in a neighborhood of income in the bottom quartile of the area of Houston, the least the building of houses and homes for 25 years and several levels of quality and 'attractiveness. Some sections, for example, the river that have experienced gentrification, but other areas are characterized by a lack of features. The market for rental and support of projects are in the area south of the center of Houston, 288 to the west, Interstate-45 east and Almeda-Genoa in the south. See the tables below, the list of localities for projects that are not a grant program (projects rental market) and projects, participation in a program of rent subsidies: http://www.poconnor.com/article.asp?id=48