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What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures, Updated Edition, 2nd Edition by Frank Gallinelli

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CHAPTER 38Calculation 32: Assessed Value, Property Taxes, and Value Indicated by Assessment

What It Means

In most areas of the country, real property is taxed using a calculation that has four components:

•  Appraised value. The value of the property as set by the assessor. Generally, all properties in a town, city, or county are appraised at a particular point in time, and those appraisals represent the market value at that time. Properties that are newly constructed or improved are usually assessed when construction is completed. Revaluation (or reassessment, as it is sometimes called) may not occur again for several years, so as time passes, these values may become less indicative of current market value.

•  Assessment ratio. The percentage ...

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