What Is an Assessment/ Assessed Value (AV)?
• A property’s assessment is based on its market value. Once the assessor estimates the value of a property, its total assessment is calculated by multiplying the market value by the uniform percentage for the municipality. That percentage of market or full value at which properties are assessed within a community is called the Level of Assessment (LOA).
Related Questions
- What do the terms Assessed Value, State Equalized Value and Taxable Value mean on my 2007 Notice of Assessment?
- How does the Assessment affect the property taxes I pay? What taxes are based on the Assessed Property Value?
- What do the terms Assessed Value, State Equalized Value and Taxable Value mean on my Notice of Assessment?
