What is assessed value on a property tax bill?

Assessed value is the dollar figure the county prints as the home's value for tax purposes. Millage multiplies that figure, or a taxable slice of it, to produce the yearly bill. A listing price and a bank appraisal are different numbers.

Is assessed value the same as what my home would sell for?

Not necessarily. Market value is what a willing buyer would pay. Assessed value is the county's tax figure, sometimes a fraction of market by state rule. The bill follows the printed tax figure, even when a sale would land somewhere else.

Can a property tax appeal change assessed value?

A property tax appeal is a request that the printed assessed value come down. The local rate stays put. If the value moves, the bill moves with it until the next time the county writes a new number on the roll.

What Is Assessed Value on a 2026 Property Tax Bill? | FairAppeal

On the notice

Assessed value is the dollar figure the county prints on the tax notice as the home's value for tax purposes. That printed number, not a listing price, is what later millage multiplies. If the figure sits high, the extra tax repeats every year the same number stays on the roll.

Look up if you are overpaying.

Is assessed value the same as market value?

No. Market value is what a willing buyer would pay. Assessed value is the county's tax figure, which the IAAO glossary describes as the value placed on property subject to taxation, at market or at a legally set fraction of market. Some states print a full-market number. Others print a fraction and raise the rate to match. The bill still starts from whatever number was printed.

This page defines the term. Older pages on market value versus assessed value and understanding a property assessment stay on the gap between a sale and a notice. The property tax glossary maps the rest of the sheet.

Why does the printed assessed value matter?

Because millage does not care what the house would list for. It cares what the roll says. A property tax appeal, when one is filed, is aimed at that printed value. Fair Appeal reviews the property and decides whether to file, and you pay only if FairAppeal saves you money.