10. Reference chart of equalization and quantity changes
Reporting operations section
Equalization changes
An equalization change is a change in assessed value caused by market changes such as:
- Reassessment adjust for equity
- Change in zoning
- Change in land use
- Appreciation
- Depreciation
- Physical deterioration
- Economic obsolescence
- Change in income stream
- Court-ordered reductions
- Splits and merges
- Reallocation
- Utility retirement in place
Quantity changes
Non-equalization changes such as:
| Increase | Decrease |
|---|---|
| Construction in whole or in part; Improvements, renovation | Demolition, fire |
| New equipment (poles, wires) | Removed equipment |
| Placement of a manufactured home | Removal of a manufacture home |
| Land annexed from an assessing unit | Land deeded to an assessing unit |
| Omitted property (RPTL 551) | Duplicate parcel |
| Acreage gain not as a result of a split or merge | Acreage loss not as a result of a split or merge |
| Roll section transfer (from roll sections 5, 7 and or 8 to roll sections 1, 3 and or 6) | Roll section transfer (from roll sections 1, 3 and or 6 to roll sections 5, 7 and or 8 |
| Oil and gas rights (increase due to production) | Oil and gas rights (decrease due to production) |
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