Assessed value is the value of a property that is determined by the local government for the purpose of property taxes. The assessed value is used to calculate the property taxes that the owner of the property is required to pay. The assessed value is typically lower than the fair market value, as it is used to determine the property taxes and local authorities want to keep the taxes low.
There are a few ways to find the assessed value of your property:
Check your property tax bill: Your property tax bill will typically show the assessed value of your property as well as the taxes that are due.
Contact your local government: You can contact your local government, usually the county assessor's office, and ask for the assessed value of your property. They will be able to provide you with the information.
Look online: Many local governments have an online database where you can search for the assessed value of your property by address or property identification number (PIN).
Visit your local government office: You can visit your local county assessor's office and ask for a copy of the property assessment. You may be able to find the assessed value by visiting the office or you may have to pay a fee for a copy of the record.
It's worth noting that the assessed value is not always the same as the fair market value, and it may not be updated as frequently as the fair market value changes. However, the assessed value is an important factor in determining your property taxes, so it's important to know what it is.
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