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New Member
posted Apr 30, 2021 6:13:40 PM

How do I assign the land value vs improvement value of my rental property based on the gross assessment on my real estate tax?

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1 Replies
Expert Alumni
Apr 30, 2021 6:36:40 PM

Your tax assessment should show the valuation they used for the land and the "improvements" or building separately.  If not, look it up on the tax assessors web site - it's public record.  Calculate the percentages they use, and then apply those percentages to your purchase price.  The TurboTax interview will guide you through the process.