What is the difference between “taxable value”, “assessed value” and “market value”?
• Taxable value is the value used to determine the amount you owe. Taxable value times the total millage for your area equals the amount you will owe. The taxable value may reflect a “freeze” or other condition mandated by state law and may be lower than your real assessed value. • Assessed value is 20% of the market value of your property as established by the Assessor’s Office / State.
