Neighborhood Code - This code identifies the appraisal "neighborhood" for purposes of establishing the sales comparison approach to value. It may not correspond with your particular subdivision or geographic neighborhood; it is strictly developed for use in the mass appraisal process. When establishing the sales comparison approach to value we use an appraisal area model to obtain an estimate of value. The model can include hundreds of sales. We then review a subset of sales more closely identified with a particular property, referred to as the appraisal neighborhood. We give the greatest emphasis to sales within the appraisal neighborhood through use of a neighborhood "factor." Through statistical analysis of all of these sales, we establish sales comparison values that account for different property characteristics (such as location, size, amenities, construction quality, view, etc.).
Non-Ad valorem - Non-ad valorem assessments are based on the improvement or service cost allocated to a property (e.g. solid waste, lighting, or paving assessments) and are levied on a benefit unit basis, rather than on value.
Notice of Proposed Property Taxes - An annual informational document detailing proposed property taxes, which governmental entity is responsible for the taxes levied and the amount of tax liability owed to each taxing entity. It enables the taxpayer to compare the prior year assessed value and taxes with the present year assessed value and proposed taxes. It also lets taxpayers compare the amount of taxes if there is no budget change for the upcoming year. The Notice lists the date, time, and location of all budget hearings at which the taxing authorities will hear from the public. At these hearings, the taxing authorities establish the millage to be levied against the parcel of land shown on the Notice. The Notice also shows the deadline for filing a petition to protest the assessment and any denial of exemption. Also known as Truth in Millage Notice or TRIM Notice.