How is my assessed value calculated?

All assessed values are calculated according to State Tax Commission standards. This value is shown as the State Equalized Value or SEV on your tax statement. Assessments are calculated using a mass appraisal technique that takes into account the current cost to replicate your house and then depreciates that cost based on the age of the structure.

This number is then adjusted to market value by comparing the depreciated cost of homes that have sold in your area to their sales price. Each year, the Assessor is required by law to analyze sales within economic neighborhoods using a sales study to adjust that neighborhood so that assessed values are at 50% of market value.

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1. What is the difference between the assessed value and taxable value of my home?
2. How is my assessed value calculated?
3. How is my taxable value calculated?
4. How can I expect my assessment to change in 2019?
5. I just purchased my home. Shouldn’t the assessed value be half of what I paid?
6. I recently purchased a home. Will my taxes on this property be about the same amount as the prior owner’s taxes?
7. My neighbor and I have very similar homes. Why is my tax bill higher than theirs?
8. Why did my taxes go up this year?
9. How can I find out what information you have on my property or on my neighbor’s property?
10. What can I do if I disagree with the assessed value or taxable value placed on my property?