Assessment Ratio
The percentage of a property’s market value that a state uses to calculate its taxable assessed value.
The assessment ratio is the percentage of your home’s market value that your state actually taxes. It varies widely: Texas and California use 100%, Tennessee uses 25%, Georgia 40%, and South Carolina just 4%.
This trips up most homeowners. If your Tennessee notice shows an assessed value of $100,000, the county isn’t saying your home is worth $100,000 — because the ratio is 25%, the implied market value is $100,000 ÷ 0.25 = $400,000. To know if you’re over-assessed, you compare that implied value to what your home would actually sell for.
Our savings calculator does this math automatically for all 50 states.
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