The language that we use isn’t always the easiest to understand, so we made this guide to help you navigate the assessment process. If you still have questions or need help, don’t hesitate to contact us.
An estimate of value assigned to taxable property by the assessor for purposes of property taxation. State law requires all assessments periodically be within 10% of market value. Assessed values most closely reflect market value following a revaluation. In non-revaluation years, assessments typically reflect a fraction of market value due to the changing real estate market.
The total assessed value of all assessments in the municipality that are subject to local property taxes.