Assessed value of a property

The Assessed value of a property is 70% of the appraised value.

If you know the appraised value, you can calculate the assessed value by multiplying it by 0.7:

• Example- if the appraised value of a property is $300,000, the assessed value is $210,000
  • 300,000 x 0.7= 210,000

If you know the assessed value of a property and want to figure out the appraised value, divide the assessed value by 7 and multiply that number by 10:

• Example- if the assessed value of a property is $210,000, the appraised value is $300,000
  • 10(210,000/7)= 10 x 30,000= 300,000

Taxes are calculated on the gross assessment of a property and do not include any non-transferrable exemptions (such as elderly benefit, town benefit, VA or disabilty).