What is Taxable Value?

Taxable Value (TV) is the value upon which property taxes are based. TV  is the Lesser of State Equalized Value (SEV) or Capped Value (CV).  TV  in the year following a transfer of ownership (sale, gift inheritance,  etc.) is equal to the SEV. 

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1. What is the time period considered in the 2021 sales study?
2. What is the time period considered in the 2020 sales study?
3. How is your property value estimated?
4. What causes property values to change?
5. What is a State Equalized Value?
6. What is Capped Value?
7. What is Taxable Value?
8. Why isn’t my new assessment 50% of my purchase price?
9. Sale prices are going down in my neighborhood, why hasn’t my assessment gone down?
10. What is the time period considered in the 2020 sales study?
11. How do I qualify for the homestead or PRE exemption?