The value of the property will be calculated by the City Assessor's office after evaluating the building construction. To estimate the value of your new construction rebate, enter the estimated market value of the property on January 2 of the two years following the building permit. A good indicator of the market value is the list price and/or purchase price of the property. However, if the property is partially constructed as of January 2 of either or both years of eligibility, please enter the estimated value for the partially constructed building plus the land, not the expected value after completion.