Property Taxes: Assessment, Rates & Appeals

Ad valorem property taxes fund local government: the assessor sets an ASSESSED value (often a fraction of market value), exemptions (homestead, senior, veteran) subtract from it, and the taxable value is multiplied by the tax rate — sometimes expressed in MILLS, where one mill is $1 per $1,000 of assessed value. A $200,000 assessed home at 25 mills owes $5,000. Owners can appeal assessments (not rates) to a review board with comparable evidence. Unpaid taxes become a superior lien and can lead to tax sale with certificate and redemption systems. SPECIAL ASSESSMENTS charge benefited properties for local improvements — sidewalks, sewers — and are also priority liens.