What is the difference between market value and assessed value?
The assessed value is a percentage of the market value of a property, and is determined based on the classification of the property. Real property can fall into the following classifications with their corresponding assessment percentages:
- Agricultural 12%
- Residential 19%
- Commercial 32%
For example, a residential property with a market value of $100,000 has an assessed value of $19,000 ($100,000 x .19). However a commercial property with a market value of $100,000 has a different assessed value because it has a different assessment percentage ($100,000 x .32 = $32,000).

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1. How often do you reassess property?
2. Who makes the decision to reassess my property?
3. Why is reassessment required?
4. What is market value?
5. What is the difference between market value and assessed value?
6. Do all property values change during reassessment?
7. How can my property value increase if I have done nothing to it?
8. What if I disagree with my assessment?
9. Why do my taxes increase?
10. How does reassessment affect my taxes?
11. Is all property taxed at the same rate?
12. Where do you get your car values?
13. Why is there a penalty for turning in a late assessment list?