Journal of Property Tax Assessment & Administration


This article examines assessment of a rare but quickly growing type of property—owner-occupied, resale-restricted homes on leased land. This property arrangement is facilitated by community land trusts (CLTs) in order to stabilize low- and moderate-income neighborhoods and to perpetually recycle the subsidy required to make home ownership affordable for low-income buyers. CLT home ownership differs substantially from other property interests and merits specific consideration in the context of property assessment to ensure equitable taxation. As a contribution to the wider research agenda and to help assessors understand CLTs, this article briefly describes CLTs and their national position and history and then examines the methods used by individual assessors in New York State, where, like many states, there is little legislative, judicial, or administrative guidance for valuing this type of property.

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Land trusts - Valuation, Community development


This material was first presented at the International Association of Assessing Officers’ (IAAO) 77th Annual International Conference on Assessment Administration in Phoenix, Arizona, on September 21, 2011. The research was conducted through a grant by the Academic Partnership Program, which is administered by the IAAO Research Committee.