What is the effective tax rate mentioned for the property in the analysis?

The effective tax rate is a critical measure that reflects the amount of tax paid as a percentage of the property's assessed value or market value. In this case, the effective tax rate chosen is 2%. This percentage allows property owners and assessors to understand the fiscal impact of property taxes on real estate.

Opting for a 2% effective tax rate indicates a moderate level of taxation that can facilitate budget planning, property valuations, and investor decisions. It is often used to evaluate the overall taxation environment within a jurisdiction and helps compare tax burdens across different properties or regions.

Understanding the effective tax rate is essential in property assessments, influencing property investment decisions and affecting market dynamics in real estate. It plays a role in valuation methods employed by appraisers and assessors, who must consider how tax rates will impact property performance and owner responsibilities.