Millage Rate
Property tax rate whereby each mill is $1 of tax assessment per $1,000 of assessed property value. For example, a house in Los Alamitos is assessed at $200,000 and the millage rate is 10 mills. The assessment for the home would be $2,000 ($200,000*.01).
Popular Real Estate Terms
The definition of a census-designated place or CDP is rather complex and difficult to understand. We are going to try to explain it as much as possible. Starting from the top and working ...
Characterized by a low volume of real estate sale transactions. ...
Mutually binding property sales contract where the title remains with the seller until the purchase price is paid by the buyer. It is a contract to convey title in the future upon ...
Funds put up by venture capitalists to finance a new business. Often, involves a loan or investment in preferred stock or convertible bonds. A major purpose of seed money is to form a basis ...
Rights allowing an insurer to act against a negligent third party to receive reimbursement for payments made to an insured. ...
The lessee becomes a lessor by subletting the property to a third party. Typically, the sandwich leaseholder does not own or use the property. ...
Sheet metal, often made of aluminum, used to cover a structure's open masonry or wood joints. The purpose of flashing is to prevent the penetration of water as well as to provide a drainage ...
The definition of acquisition cost in real estate is the total cost recorded by a company or individual pertinent to the purchasing of a property. This is the entire amount written down in ...
Process by which a lessee leases the property to another lessee. ...
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