- Do we calculate captured value property by property, or roll by roll? (for Step 2 of form 2604/2967)

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Do we calculate captured value property by property, or roll by roll? (for Step 2 of form 2604/2967)

Answer:

Calculate captured value roll by roll. You will still need the base year value and the current year value for each parcel in the plan, but you should add them roll by roll, and then calculate the captured value for each roll.

A simple example is:

	Parcel	Base Year	Current Year	Captured Value
Homestead property	A	$100	$175
	B*	$ 25	$ 0
Homestead ad valorem roll		$125	$175	$ 50

Non-homestead real	B*	$ 0	$ 50
	C	$ 75	$125
	D	$ 95	$ 90
Personal property	E**	$ 35	$ 0
	F	$ 80	$105
Non- homestead av roll		$285	$370	$ 85

IFT New, post 1993	G	$0	$205
	H	$0	$400
IFT New, post 1993 roll		$0	$605	$605

* Note that parcel B switched rolls.(see "How do I report initial value? How do I report current value?").
** Parcel E personal property was removed from the area after the initial year.

Once these values are calculated roll by roll, you must compute the captured taxes by tax roll. Do not net the roll values together. Doing so would give you an incorrect calculation, because each roll is taxed at a different rate.

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