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Question

Definition of "Improvement Value" of a rental property.

Forum|Forum|2 years ago
April 15, 2024
2 replies
0 views

In TurboTax Premier Is the "Improvement Value" of a Rental property equal to the (Assessed Property Value - Land Value?), or is it the whole Assessed Property Value?

Employee

It's the difference between the total assessed value and the assessed value of the land alone.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

The improvement value is the value (costs) of all the structures on the property not including the assessed land value. The improvement value is likely more than the assessed improvement value on a property tax bill.

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