What is taxable value?
Taxable value is the value used to calculate your tax bill. Although your assessed value will increase with the market, your taxable value is capped - meaning it can only increase 5% or consumers price index, whichever is lower. Once a home is sold, the cap is removed and the new taxable value is usually about half of the purchase price or the current State Equalized Value (SEV) on your parcel.

Show All Answers

1. If I disagree with my Property Assessment what can I do?
2. When are property taxes due?
3. How are my property taxes determined?
4. How are tax rates determined?
5. What is taxable value?
6. What are real and personal property taxes?
7. What if I can't pay my tax bill by the due date?
8. What are the penalties for late taxes?
9. Where do I send tax payments?
10. Does the City accept credit card payments?
11. I never received a tax bill, what should I do?
12. What is a homestead exemption?
13. How do I know if I have an exemption?
14. How do I apply for a homestead exemption?
15. What services are included in my City utility bill?
16. How much do my utility services cost?
17. When is my utility bill due?
18. Why is my utility bill higher than my neighbors?
19. What happens when I sell my property?
20. I have moved, but my property has not sold. Will I be billed for garbage pickup?
21. What is a Poverty/Hardship Exemption? How do I qualify? When do I file?