Assessed Value
The dollar value a tax assessor assigns to a property to calculate its taxes.
Assessed value is the figure your county assigns to your property for tax purposes. Your tax bill is this value multiplied by the local tax (millage) rate.
In full-value states it equals the county’s opinion of market value; in fractional-ratio states it’s a percentage of market value. Either way, if it’s too high relative to comparable sales, you can appeal to bring it — and your bill — down.
Related
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Check your property for $4.99 — credited toward your appeal if you proceed.
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