What is the formula for Capped Value?
The Capped Value calculation is used to determine Taxable Value. 2015 Capped Value (CV): The 2015 formula is: (2014 TV-2014 Losses x 1.016) + 2015 Additions = 2015 Capped Value. The 2015 IRM is 1.6%. Losses are considered to be physical losses to the property. Additions are considered to be physical additions to the property.
Updated 5/27/2015 2:59 PM