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14
mARKET vALUE
ESTIMATE THE MARKET VALUE OF YOUR PROPERTY.New York City.
By MATHEW JOSEPH
You can do your own sales analysis from the actual sales recorded with the City of New York to arrive at an estimate of the market value. This information is available at the NYC Department of Finance website; search for Rolling Sales Data. The data is available in two formats, Excel, and PDF. The Excel format allows you to sort the data the way you want and compare your property with actual sales to arrive at an estimate of your property. These are the actual sale prices. The Department of Finance's Rolling Sales files lists properties that sold in the last twelve-month period in New York City for tax class 1, 2, and 4. Previous years' data is also available. Factors which affect the property's value such as the neighborhood, building type, square footage, date of sale, recorded sales price, and other data. A glossary and building class codes are also available on the website which will help you to sort the data. If you do not know the building class of your property, refer to the notice of property value, tax bill or look it up on the website using the address of the property or the Block and lot of the property. Remember that market values fluctuate constantly based on market conditions like demand, supply, interest rates etc. In certain areas houses are selling for more than the asking price at times.
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