Property tax in the United States

Zone classification and rates are the two tools for property taxation In the year 2008-2009 several areas were treated backward and were classified under F

The first reclassification was done by BMP for three core city areas, West, East and South It divided an area into five zones – A B C D and E –

residential zone classification bbmp d means Properties that wrongly declared the zone will be automatically redirected to Form V for tax calculation Similarly, changes on occupancy, usage

residential zone classification declared by tax payer Market or sales comparison approach to value is determined, or estimated, based on multiple sales of similar properties Most residential property is valued