The assessed home value is the amount of money the government tax assessor says your property is worth. This assessed home value determines how much you will pay for property taxes. The government assessor usually works on the county level, meaning the assessor is somewhat familiar with your area. Being familiar with the area allows the assessor to make a good decision when it comes to determining the market value of your home. Once the value of your home is determined, a series of mathematical formulas set by the county government are used to determine how much you will pay in property taxes.

To find out the assessed home value, the county assessor will first find the market value of your home. They can do this by observing what prices similar homes in the area are selling for. County assessors usually keep the market value at a reasonable level. The assessor then takes the market value of your home and multiplies it by a percentage determined by the local government. This determines assessed home values. The county auditor or controller then takes the value determined by the assessor and uses a fixed formula, which includes subtracting any exemptions, to determine your property tax amount. The county assessor only finds the assessed home value; he or she does not determine the tax amount. Some counties have property tax exemptions for seniors. These exemptions take a specified amount of money, usually under $5000, off of the assessed value of the home.

Property taxes seem to keep going up and up and up. Some counties realize that this isn