Clarified: I just looked up my assessed tax value of my home. Can someone please help?
If the 2006 assessment is 14,863,does it mean that I now pay 14.683?
Answers:
No, the assessment is the value the tax assessor put on your house - then there's a formula that uses that amount to get the amount of taxes.
Note: not everyplace uses the logical approach of assessed value being as close as possible to the actual value of the house - some areas assess at a percentage. For example, if they assess in your area at 50%, that would mean that if your assessment is $30,000, then the actual estimated value is $60,000
Does the assesment say $14,863 in taxes or valuation? Most assesments are what the county says the property is worth. The tax is then based on that.
County assesments are ususally much lower than true market value.
Is it much higher than last year? If it went up by an unusual amount, you can request a review based on valuations of other similar properties.
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