What is the difference between the appraised value and the assessed value?


The appraised value is the value estimate established by the assessor from the last reassessment, an assessable transfer of interest, the value as a result of an appeal, or the value after new construction/remodeling. The appraised value may be capped based on the last reassessment (15% limitation)
The assessed value is the result of multiplying the appraised value by the appropriate assessment ratio of 4%, 6% or 10.5%.

Comments are closed.