What is the difference between "actual" and "assessed" value?

The Assessor determines the "actual" (market) value for all real and personal property. Actual value is then reduced by a percentage to derive the "assessed" value. For the 2023 Property Tax Year, the residential property assessment rate is 6.765%. For example, if a homeowner receives a Notice of Valuation from the Assessor stating that the actual value of their property is $530,000, its assessed value would be $36,850 rounded (530,000 x 0.06765). See FAQ "What are the assessment rates on all property types?" for the rest of the assessment rates.


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1. Why do we have property assessments?
2. How is my property assessed?
3. How do I look up information on my property?
4. How are my property taxes calculated?
5. How do I appeal my property value?
6. When is my property assessed?
7. My house wasn't complete on Jan. 1. How was it valued?
8. What are the assessment rates on all property types?
9. What is the difference between "actual" and "assessed" value?
10. What are mill levies?
11. What are taxing authorities?
12. I have questions about paying my tax bill.
13. I have questions about mineral rights.
14. Where can I get information about my property lines?
15. I have questions about planning / zoning / building codes / permits.
16. How do I change my mailing address?