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Tax and Assessment Data <br />20 <br /> <br />Tax and Assessment Data <br />The following summarizes the local assessor’s estimate of the subject’s market value, assessed <br />value, and taxes, and does not include any furniture, fixtures or equipment. The CBRE estimated <br />tax obligation is also shown. <br />AD VALOREM TAX INFORMATION <br />Assessor's Market Value Parcel Description 2020 2021 Pro Forma <br />01-1390-00020-000 Lot: 2 Block: 1 HUB LOT 2 BLK 1 $1,773,000 $1,507,100 <br />Total Assessor's Market Value $1,773,000 $1,507,100 $1,507,100 <br />Assessed Value @ 5% 5% 5% <br />$88,650 $75,355 $75,355 <br />General Tax Rate (per $100 A.V.) 29.21 - 29.21 <br />General Tax: $25,894 $22,011 <br />Drains: $820 $820 <br />Special Assessments: 109 109 <br />Subtotal $26,823 $0 $22,940 <br />Less: 5.0% Early Payment Discount ($1,294.72)$0.00 ($1,100.55) <br />Total Taxes $26,003 $0 $21,839 <br />Source: Assessor's Office <br /> <br />The local Assessor’s methodology for valuation is based upon an assigned mill rate that is <br />established on a yearly basis. The following equations illustrate how the county determines the <br />yearly taxes: <br />Market Value x Taxable Ratio =Taxable Value <br />Taxable Value x Total Mill Rate* = Property Tax Bill <br />The commercial taxable value is equivalent to 5.0% of appraised value. A 5% discount is applied <br />to all early payments. CBRE, Inc. assumes that taxes are paid early in order to take advantage of <br />this discount. <br />DELINQUENCY <br />None noted.