Assessed value of your home: what it means and how to find it

Last updated 2026-07-09

What is the assessed value of a home?

Assessed value is the number your local government uses to calculate how much property tax you owe. That's the whole job. It's not what your house would sell for, it's not the appraisal your lender ordered, and it's not what Zillow flashes on your screen. It's a government-assigned figure, recalculated on a schedule set by state law, and it drives your annual tax bill almost entirely on its own.

The math is simple. Assessed value times your local tax rate (called the mill rate or millage) equals your bill before exemptions. Assessed value of $300,000 at a combined local rate of 1.2%? You owe $3,600 a year before any exemption trims it down.

Most people have no idea whether their assessed value is even accurate. That's a real problem. Assessors carry heavy caseloads, run mass appraisal models, and make errors all the time. One well-cited analysis by the Lincoln Institute of Land Policy found assessment inequities touching millions of properties nationwide, with lower-value homes often carrying a disproportionately high assessment burden ^[1].

How is assessed value different from market value?

Market value is what a willing buyer pays a willing seller in an arm's-length deal today. Assessed value is usually a slice of that. The size of the slice is set by your state or county and goes by the name assessment ratio (sometimes the assessment level or equalization rate).

Here's how it plays out. If your state uses a 60% assessment ratio and your home's market value is $400,000, your assessed value should land at $240,000. Some states assess at 100% of market value. California runs on its own rules under Proposition 13 ^[2]. Others use ratios as low as 10%. The table shows how far this spreads.

State	Assessment Ratio	Notes
California	~1% of purchase price (plus up to 2%/yr)	Prop 13; reassessed at sale [2]
New York	Varies by county; NYC uses ~6% for Class 1	Complex class system [3]
Texas	100% of market value	Homestead cap limits increases to 10%/yr [4]
Illinois	33.33% statewide, Cook County complex	County equalization applied [10]
Georgia	40% of fair market value	State statute [6]
Florida	100% of market value	Save Our Homes caps increases at 3%/yr or CPI [7]
Ohio	35% of market value	Set by state constitution [8]

The gap between assessed and market value is where most of the confusion lives. People panic at an assessed value that looks "too low" or "too high" without knowing the ratio their county applies. Look at the ratio first. Everything else follows from there.

How do I find the assessed value of my home?

The fastest route is your county assessor's website. Almost every assessor in the country runs a public property search tool now. You type in your address, your parcel number (also called an APN or PIN), or your name, and out comes the assessed value, the split between land and improvement value, and usually the assessment history for the last several years.

Can't find the assessor's site? Go to your county's main government homepage and hunt for "Assessor," "Property Appraiser," or "Property Tax." The titles change by state. In Florida the office is the Property Appraiser, not the Assessor. In Louisiana it's the Assessor or Tax Assessor depending on the parish.

Four other places to find your assessed value:

1. Your property tax bill. It should show the assessed value (or taxable value after exemptions) next to the tax rate and what you owe. 2. Your Notice of Value or Assessment Notice. This is the annual or periodic mailer from the assessor, usually landing in spring, that states the new assessed value and your appeal deadline. 3. Your county recorder or auditor's office, which often keeps duplicate records. 4. Real estate sites like Redfin or Realtor.com sometimes pull assessor data, but it runs six to twelve months behind and you should never use it as appeal evidence.

For specific counties, the lookup links are county-branded. Cook County, Illinois runs a full portal at cookcountyassessor.com ^[5]. Bexar County (San Antonio) uses a separate appraisal district portal [see /articles/appeal-process/bexar-county-tax-assessor]. Los Angeles County has its own assessor portal [see /articles/appeal-process/los-angeles-county-property-tax]. Maricopa County (Phoenix) runs its own assessor site [see /articles/appeal-process/maricopa-property-tax].

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

These three terms get swapped around constantly, and they mean different things. Mix them up and you'll trip yourself in an appeal.

Appraised value is the assessor's estimate of your home's market value before any ratio touches it. In some states (Texas, Florida, Georgia), the notice literally calls this the "appraised value" and sets it at 100% of market value. A separate step then applies the assessment ratio or a cap to produce the assessed value.

Assessed value is the figure after the ratio is applied. In Georgia, the law fixes assessed value at 40% of fair market value. A home the assessor values at $350,000 on the market carries an assessed value of $140,000 ^[6].

Taxable value (also called net assessed value or assessed value after exemptions) is what's left once you subtract exemptions, like a homestead exemption, senior exemption, or veteran's exemption. This is the number your tax rate actually hits. Assessed value of $140,000 with a $2,000 homestead exemption gives you a taxable value of $138,000.

When your notice arrives, figure out which of the three figures you're staring at. A Texas appraisal district notice usually shows the appraised value, any cap value that applies, and the taxable value after exemptions, all on one page ^[4].

How does the assessor calculate my home's assessed value?

Assessors use mass appraisal, not individual appraisals. Nobody can send an inspector to every property every year, so they run statistical models that push market data across whole neighborhoods at once. The International Association of Assessing Officers (IAAO) writes the professional standards for these models, requiring the median ratio of assessed-to-sale price to stay within roughly 10% of the legal ratio, with a coefficient of dispersion (a uniformity measure) below 15% in most residential markets ^[9].

Three approaches feed the model.

The sales comparison approach looks at recent sales of similar properties and adjusts for size, age, condition, and features. This carries the most weight for residential property.

The cost approach estimates what it would cost to rebuild the structure from scratch, subtracts depreciation, then adds land value. Assessors reach for this more with newer homes or oddball properties where sales comps are thin.

The income approach is almost entirely for commercial and income-producing property. It values a property on the income it throws off or could throw off. For a single-family home, you can mostly ignore it.

The model falls apart in the details. Your property's real condition, an unpermitted addition, a cracked foundation, a lot backing up to a highway, a floor plan the market quietly discounts: those factors don't always reach the model. That gap is where appeals win.

How often is assessed value updated?

It depends on state law and, sometimes, county policy inside a state. There's no federal rule.

Some states reassess every year. Texas appraisal districts appraise annually ^[4]. Florida property appraisers reassess every year ^[7]. Cook County in Illinois runs a triennial cycle, so each township gets reassessed once every three years ^[5].

California is the outlier. Under Proposition 13, your assessed value locks at the price you paid, then climbs by no more than 2% a year no matter what the market does. It jumps to market value only when the property sells or transfers ^[2]. This creates wild gaps where neighbors in matching houses pay very different tax bills based only on when they bought.

Ohio runs a full reappraisal every six years, with a triennial update at the three-year midpoint ^[8].

Here's the practical part. If your assessor reassesses every year and your neighborhood had a hot market, you might catch a big jump. If you're on a triennial or six-year cycle, a large run-up can land on you all at once when the cycle comes around.

Why is my assessed value higher than what my home is worth?

This is the question that sends people looking for answers in the first place. It's the right question, because an over-assessed home means you overpay tax every single year until you fix it.

A few common reasons:

The assessor's market value estimate is wrong. The model may have leaned on comps that don't match your property's condition, or missed a neighborhood price slide after a slowdown. Markets move faster than assessment cycles.

The property record has errors. More common than people think. The assessor's file may list four bedrooms when you have three, or 2,400 square feet when you have 2,100. Bad data inflates the estimate. You can usually find and download your property record card from the assessor's website or by asking for it directly.

You're missing an exemption. A homestead exemption, a senior freeze, or a disability exemption can cut your taxable value by a lot. These don't change assessed value, but they shrink what you get taxed on.

Inequity. Your property is assessed at a higher share of its true value than the homes around you. In many states that's a separate legal ground for appeal, apart from arguing that the market value is wrong.

The Lincoln Institute found that in some cities the lowest-valued 10% of homes were assessed at effective rates up to twice as high as the top 10%, a pattern baked into mass appraisal models ^[1]. If you live in an affordable neighborhood, this may hit you.

Can I lower my assessed value, and how do I start?

Yes. The formal process is a property tax appeal, and in most places you can run it yourself without hiring anyone.

Here's the general shape. You get a Notice of Value (sometimes called a Notice of Assessment or Notice of Proposed Property Taxes). That notice carries a deadline to file a protest or appeal, often 30 to 90 days from the date on the notice, depending on your state. In Texas the standard deadline is May 15 or 30 days from the notice date, whichever is later ^[4]. In Florida it's 25 days from the mailing of the Truth in Millage (TRIM) notice, usually in September ^[7]. Miss it and you lose the right to appeal until next year.

Once you file, you'll usually get an informal hearing with an assessor's staff member first. Bring comparable sales showing your home is assessed too high, or bring your property record card with the errors circled. Most successful DIY appeals settle right here.

If the informal hearing goes nowhere, you escalate to a formal board: the Appraisal Review Board (ARB) in Texas, the Value Adjustment Board (VAB) in Florida, the Board of Review in Illinois, and similar bodies elsewhere. After the board, you can usually appeal to state tax court if you're still unhappy.

Contingency firms take 30% to 50% of the first year's savings. On a $500 annual reduction, that's $150 to $250 out of your pocket for something you can do in an afternoon. The TaxFightBack DIY appeal kit walks you through the evidence package, comp selection, and hearing script without giving up a dime.

For county-specific process details, see our guides for Cook County, Illinois, Gwinnett County, Georgia, San Diego County, and Lake County.

What evidence do I need to challenge my assessed value?

The strongest single piece of evidence is comparable sales, called comps. These are recent sales of homes like yours in size, age, condition, location, and features. "Recent" usually means within the past twelve months, though some jurisdictions allow up to twenty-four months when the market's been thin. "Similar" means within roughly 20% of your square footage, the same property class, and ideally within a mile.

You want comps that sold for less than the market value the assessor pinned on your home. Three to five solid comps is plenty. Pull them from your county's deed records (public), from Zillow's sold listings, from Redfin, or from an agent who can run a quick MLS search as a favor. If you have an agent relationship, ask for a Broker Price Opinion built around the assessor's date-of-value.

Other useful evidence:

Your property record card with the specific errors highlighted. Get this from the assessor's office directly.

A recent appraisal. If you had one done in the past year for a refinance or purchase, it counts. A full USPAP appraisal ordered just for the appeal is convincing but runs $300 to $600 and usually isn't needed unless you're headed to tax court.

Photographs of condition problems: water damage, foundation cracks, deferred maintenance the assessor's model never saw.

A written comparable grid, laid out the way the assessor works internally, showing your property next to the comps with adjustments. This is exactly what reviewers are trained to read, and it signals you know what you're doing.

For counties like Maricopa County or Bexar County, the assessor's own sales ratio study (published every year) can show systemic over-assessment in your area, which is strong backup.

How do assessment ratios affect what I actually pay?

Understanding the ratio is the line between knowing you have a real case and wasting time on an appeal you'd lose.

Say the assessor pegs your home's market value at $280,000 and your state uses a 40% ratio. Your assessed value should be $112,000. If the assessor has you at $130,000, the real question isn't whether $130,000 looks high. It's whether the implied market value ($325,000) is too high next to what similar homes sold for. That's the argument you make.

Some states publish equalization rates by county, which tell you whether assessed values are running above or below the required ratio statewide. In New York, the State Office of Real Property Tax Services publishes equalization rates every year ^[3]. If the equalization rate for your area sits below 100%, assessed values run below market, and appeals on market value grounds get harder. If it sits above 100%, the county is over-assessing and your argument gets stronger.

Nobody keeps a clean national database of every assessment ratio in one place. The Lincoln Institute maintains useful state-by-state data, and the IAAO publishes ratio studies from time to time ^[9]. Your state's department of revenue or taxation usually posts the legally required ratios for each county.

What should I do after I find my assessed value?

Run a quick sanity check before anything else. Take your assessed value, divide by your state's assessment ratio, and you get the assessor's implied market value for your home. Then look at what similar homes near you actually sold for in the past twelve months.

If the implied market value lands within about 5% of what recent sales suggest, the assessment is probably defensible and an appeal has low odds. If it's 10% or more above what you'd expect, you likely have a case.

Check your property record card for factual errors too: square footage, bedroom count, bathroom count, lot size, year built. These are easy wins because you aren't arguing opinion. You're pointing at a factual mistake that has to be fixed.

Check your exemptions. Plenty of homeowners are missing exemptions they qualify for, and most states let you apply retroactively for one to three prior tax years. A homestead exemption in Texas can remove up to $100,000 from your home's appraised value for school district taxes starting with the 2023 tax year ^[4].

Found an over-assessment? File before the deadline. That part is non-negotiable. A single successful appeal in most counties carries forward until the next reassessment, so you bank the savings every year without doing it again.

If you're in Cherokee County or Coweta County in Georgia, see our specific guides for Cherokee County and Coweta County for local deadline and process details. The TaxFightBack appeal kit has jurisdiction-specific templates if you want structured guidance without hiring anyone.

Frequently asked questions

How do I find the assessed value of my home online?

Go to your county assessor's, property appraiser's, or appraisal district's website and use the property search tool. Enter your address or parcel number. Almost every county in the United States now runs a free public search portal. If you can't locate the right office, search your county name plus "property search" or "assessor" and the government site should come up first. The data is public record.

Is assessed value the same as market value?

No. Assessed value is usually a percentage of market value, set by your state's assessment ratio. Texas and Florida assess at 100% of market value (though caps limit annual increases), while Georgia assesses at 40% and Ohio at 35%. Even where the ratio is 100%, the assessor's market value estimate often differs from what your home would actually sell for today.

Why is my assessed value lower than my home's market value?

It's almost certainly your state or county's assessment ratio. Most states deliberately set assessed value below market value as policy. California's Proposition 13 is the most extreme version, where assessed value stays near the purchase price no matter how much the market climbs. Check your state's legally required ratio before you conclude there's an error.

How do I find the assessed value of a home I don't own?

Assessor records are public. Go to the county assessor's website, search by address, and the assessed value, property record card, and tax history are typically visible to anyone. Most counties require no login. This works for comparing your assessment to your neighbors', which is one of the best ways to spot an over-assessment.

What is the assessment ratio and where do I find mine?

The assessment ratio is the percentage of market value your county or state uses to set assessed value. Your state's department of revenue or taxation publishes the required ratio by county. The Lincoln Institute of Land Policy and the IAAO also publish comparative data. Your Notice of Value or assessment notice sometimes states the ratio directly.

How often does assessed value change?

It depends on your state. Texas and Florida reassess annually. Cook County, Illinois reassesses each township every three years. Ohio does a full reappraisal every six years. California freezes assessed value at the purchase price and allows no more than 2% annual increases until a qualifying sale or transfer. Check your state's department of revenue or your county assessor for the exact cycle.

Can my assessed value go up more than market value?

Yes, and this is a common basis for appeal. If the market in your area dropped and your assessed value didn't follow, you're being taxed on a value your home no longer holds. The assessor's mass appraisal model can lag real market shifts by a year or more. If you have recent sales of comparable homes at prices below your assessed value, that evidence supports an appeal.

What is taxable value versus assessed value?

Assessed value is the figure before exemptions. Taxable value (also called net assessed value or assessed value after exemptions) is what remains after subtracting any exemptions you qualify for, like a homestead, senior, veteran, or disability exemption. Your actual tax bill is calculated using the taxable value. You can have a high assessed value but a modest tax bill if large exemptions apply.

Does a higher assessed value mean my home is worth more?

Not reliably. Assessed value reflects the assessor's estimate, not the real market, and it can be wrong in either direction. A higher assessed value doesn't mean buyers would pay more for your home. The only figure that truly reflects market value is a recent comparable sale or a licensed appraisal. For tax purposes, what matters is whether the assessed value is higher than it should be, not whether it's high in absolute terms.

What happens if I don't appeal a wrong assessed value?

You overpay every year until the next reassessment, with no refund for prior years in most states. Some states allow one to three years of back-correction if you can show ongoing error, but that's the exception. Missing the appeal deadline in a given year means waiting for next year's cycle. In a triennial or six-year reassessment state, that could mean four or more years of overpayment.

How much does it cost to appeal my assessed value?

Filing an appeal yourself is almost always free or carries a nominal fee, typically under $30 in most jurisdictions. Contingency firms charge 30% to 50% of first-year savings. An independent appraisal, if you need one for a formal hearing, runs $300 to $600. For most residential appeals you don't need an appraisal. Good comps and a corrected property record card are enough to win informally.

Can I lower my property taxes without changing my assessed value?

Yes, by claiming exemptions you aren't already getting. A homestead exemption, senior exemption, disability exemption, or veterans exemption reduces your taxable value without touching your assessed value. In Texas, the homestead exemption alone removes up to $100,000 from a home's appraised value for school district taxes. Check every exemption your county offers; many homeowners leave these unclaimed for years.

Does a home sale trigger a reassessment?

In most states, yes, a sale is a reassessment trigger. In California, a change of ownership resets the assessed value to the purchase price under Proposition 13. In Texas, Florida, and most other states, the assessor updates the appraisal to reflect the sale price and current market conditions in the following assessment cycle. Check your state's law, because the timing and scope of reassessment on sale varies.

How do I know if my assessed value is too high?

Divide your assessed value by your state's assessment ratio to get the assessor's implied market value. Then compare that to recent sales of similar homes nearby. If the implied market value is 10% or more above what comparable homes actually sold for, you likely have grounds for an appeal. Also pull your property record card and check for factual errors: wrong square footage, extra bathrooms the house doesn't have, wrong year built.

Sources

1. Lincoln Institute of Land Policy, 'The Regressivity of Property Taxation': Lower-value homes are often assessed at effective rates significantly higher than higher-value homes, a structural pattern in mass appraisal.
2. California State Board of Equalization, Proposition 13 Overview: Under Proposition 13, California assessed value is based on purchase price and increases by no more than 2% per year; reassessed at sale.
3. New York State Office of Real Property Tax Services, Equalization Rates: New York publishes annual equalization rates by municipality showing whether assessed values run above or below market.
4. Texas Comptroller of Public Accounts, Property Tax Basics: Texas appraises property at 100% of market value annually; homestead exemption removes up to $100,000 from appraised value for school taxes; protest deadline is May 15 or 30 days from notice, whichever is later.
5. Cook County Assessor's Office, Assessment Process: Cook County reassesses each township on a triennial cycle; assessor provides a public property search portal.
6. Georgia Department of Revenue, Property Tax Guide: Georgia law requires assessed value to be 40% of fair market value.
7. Florida Department of Revenue, Property Tax Oversight: Florida property is assessed at 100% of market value; Save Our Homes caps annual increases at 3% or CPI, whichever is less; VAB appeal deadline is 25 days from TRIM notice mailing.
8. International Association of Assessing Officers (IAAO), Standard on Ratio Studies: IAAO standards require the median assessment ratio to be within 10% of the legal standard and a coefficient of dispersion below 15% for most residential markets.
9. Illinois Department of Revenue, Property Tax Overview: Illinois statewide assessment ratio is 33.33% of market value; Cook County applies a separate classification and equalization system.