Sentences with phrase «exceeds full cash value»

Nevada law prohibits a taxable value that exceeds the full cash value of the home, and the county assessor is required to make a reduction if the owner calls to his or her attention the facts warranting it.

The assessor may consider comparable sales based on prices actually paid in market transactions when determining whether taxable value exceeds full cash value.

Not exact matches

If the mutual fund to which the cash value is invested returns a rate that exceeds 20 %, the full amount is credited to the policy holder's account (minus fees of course).

As noted earlier, when a life insurance policy is surrendered in full, the gains on the policy are taxable (as ordinary income) to the extent that the cash value exceeds the net premiums (i.e., the cost basis) of the policy.

A modified endowment contract is a cash value life insurance contract in the United States where the premiums paid have exceeded the amount allowed to keep the full tax treatment of a cash value life insurance policy.