Each county uses the assessed value to calculate taxes. Each county is different, some assess higher, some are lower. My suggestion is to go to the county assessor's website and look at the specific property. As a homeowner keep a close eye on any changes to your assessed value, and be prepared to dispute it should it get adjusted much too high. Assessed values are derived in a straight-line method of valuation and are not a clear picture of market value. The current assessed value is also based on figures from the previous 2 years typically.
Good luck and let me know if you have any more questions!
Kris Hansen - Tue May 27 2008, 10:59