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 1019, Notice of Assessment, Taxable Valuation, and Property Classification 2022

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welcome to county office your ultimate guide to local government services and public records let's get started what is a notice of assessment taxable valuation and property classification well you've asked a question that's music to a tax assessor's ears let's dive into it a notice of assessment is a document that your local government sends you typically annually to inform you of the essed value of your property this value is crucial as it forms the basis for your property tax calculation now what's taxable valuation you ask it's the value of your property that's subject to taxation it's usually a portion of your property's assessed value and different states have different rules on how this is calculated but wait there's more let's talk about property classification each property is assigned a classification based on its use for instance your home might be classified as residential while a factory could be industrial why does this matter well different property classes may be taxed a

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