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Property Assessment
What is taxable value?
Taxable value is the value used to calculate your tax bill. The taxable value is adjusted annually as the lesser of assessed value (market based - determined by the Assessor) and capped value. Capped value is the prior year's taxable value, less taxable value of losses, capped by an increase of the lesser of 5% or the rate of inflation, plus assessed value of additions. Taxable value is uncapped when property is sold or transferred.
