What is the difference between assessed value and taxable value?

Taxable value (TV) is the value used to compute your tax bill. Assessed value (SEV) is one half the market value, as determined by the assessor. SEV grows as the market rate of property grows. TV increases are capped to inflation rates for the time that you own the property. In the year following a transfer of ownership, the TV uncaps and will increase to the SEV, which will increase the taxes.

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1. If I don't pay my taxes, will I really lose my house and property?
2. I didn't receive a tax bill, what should I do?
3. What does your P.R.E. Exemption reduction noted on the tax bill refer to?
4. How is property assessed?
5. Why am I charged 3% for using my debit/credit card?
6. I owe taxes from last year, how do I find out how much is my payoff?
7. What is the difference between real and personal property?
8. What is the difference between assessed value and taxable value?
9. What if I can't pay the tax bill when it is due?
10. What are the penalties for late payments on taxes?