How are Possessory Interests valued?

The income approach is the most commonly relied upon method. The value is typically based on the lease payments made to the landlord of the term of possession by the occupant.

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1. What is a Possessory Interest?
2. Why do I have to pay property taxes if the property is tax-exempt?
3. How do Possessory Interests differ from other assessments?
4. How does the Assessor distinguish which Possessory Interests are assessable and those which are not?
5. Why are Possessory Interest holders being charged property tax in addition to the rent they pay to a government entity? Isn’t that a form of double taxation?
6. How are Possessory Interests valued?
7. Why are Possessory Interests assessed on the Unsecured Tax Roll?
8. How do Possessory Interest Unsecured tax bills differ from Secured Roll tax bills?
9. I received a tax bill for the year July 1 through June 30, but I vacated the property in March. Why do I have to pay for the year after I vacated?
10. Where can additional information about Possessory Interest Assessments be obtained?