Assessment Ratio
Assessment Ratio means:
the ratio of assessed valuation to fair market value.
Example of Assessment Ratio:
Learn more about tax examples, explanations and calculations here.
A county requires a 40% assessment ratio on all property to be taxed. Property with a $100,000 market value is therefore assessed at $40,000 (40% of 5100,000), and the tax rate is applied to $40,000.
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