Civic · 6 pages · 12 min
Why assessment and rate are two decisions
One decision sets taxable property value, and another decision sets the levy applied to that value.
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From the opening
Assessment is the decision about what a parcel is worth on the tax roll after the rules of classification and exemption have been applied. The rate is a separate decision about the levy placed on that taxable value, and neither choice by itself is the whole tax bill an owner receives. The opening covers value is not the same as levy, several bodies can share one roll, and appeals and budget hearings differ.
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Inside
- Value is not the same as levy
- Several bodies can share one roll
- Appeals and budget hearings differ
- Revenue caps can link the knobs
- Where the idea stops applying
- A distinction worth keeping
Sources
- Property assessment roll
- Tax levy or millage rate