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An asset's initial book value is its actual cash value or its acquisition cost. Cash assets are recorded or "booked" at actual cash value. Assets such as buildings, land and equipment are valued based on their acquisition cost, which includes the actual cash cost of the asset plus certain costs tied to the purchase of the asset, such as broker fees.
When the purchaser of an intangible asset is allowed to amortize the price of the asset as an expense for tax purposes, the value of the asset is enhanced by this tax amortization benefit. [1] Specifically, the fair market value of the asset is increased by the present value of the future tax savings derived from the tax amortization of the ...
The word tax assessment is used in different ways, but often refers to a tax liability owed by a taxpayer. In the case of property, a tax assessment is an evaluation or an estimate of value that is typically performed by a tax assessor. The assessment leads to an "assessed value," which is a base number used in the calculation of the property tax.
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Tonnage is a measure of the capacity of a ship, and is commonly used to assess fees on commercial shipping.The term derives from the taxation paid on tuns or casks of wine. In modern maritime usage, "tonnage" specifically refers to a calculation of the volume or cargo volume of a ship.
Land value taxation – This method separates the value of a given property into its actual components — land value and improvement value. A gradually lower and lower tax is levied on the improvement value and a higher tax is levied on the land value to insure revenue-neutrality. A similar method is known as split-rate taxation.
The latest bills for the 10 Trump-controlled taxable properties in the county hit a grand total of $1.83 million, tax records show. The value of Mar-a-Lago lately has been hotly contested, thanks ...
An asset depreciation at 15% per year over 20 years [1] In accountancy, depreciation refers to two aspects of the same concept: first, an actual reduction in the fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wears, and second, the allocation in accounting statements of the original cost of the assets to periods in which the assets are ...
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