What is a notice of assessment?

This is the annual notification of what the tentative assessed value and taxable value is for the year in which it is sent. These notices are mailed annually prior to the March meetings of the local boards of review.

The notice indicates the Assessed Value and the Taxable Value for the year in which it is sent. It shows the percentage of Principle Residence Exemption that is on the property, the Classification of the property and if there was or was not a Transfer of Ownership.

Show All Answers

1. What are property taxes based on?
2. What Is Assessed Value?
3. What Is State Equalized Value (SEV)?
4. What is Taxable Value?
5. What is a notice of assessment?
6. How are property taxes calculated?
7. What happens when you purchase a home?
8. What is a principal residence exemption?