Re:Detroit wants to be the first big American city to tax la...
by ClumsyPilot on Tuesday October 17, 2023 @04:26AM
(#37912034)
> Since it's theoretical, it's very subjective.
When you get a mortgage, it's based on a theoretical value of the property as determined by an assessment.
The bank will lend you up to, for example, 90% of the assessed value. Thats how you get a morthgage on a property that maybe you already own for 20 years.
When you get a mortgage, it's based on a theoretical value of the property as determined by an assessment.
The bank will lend you up to, for example, 90% of the assessed value. Thats how you get a morthgage on a property that maybe you already own for 20 years.