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Assessment basics

Assessed value vs market value: what homeowners need to know.

Updated June 2026 - SavePropertyTaxes research

Assessed value and market value are related, but they are not always the same number. Understanding the difference helps you read your tax bill and decide whether the assessment deserves a closer look.

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Compare my assessed value See why the gap matters

Market value

Market value is generally what a property would sell for under normal conditions. Appeals often use recent comparable sales to estimate market value.

Assessed value

Assessed value is the value used by the local assessment system. In some places it is intended to equal market value. In others, it is a percentage, capped value, equalized value, or value adjusted by local rules.

Why the difference matters

If your local assessment is supposed to track market value and it is above supportable market value, an appeal may make sense. If your area uses ratios or caps, you need to compare the right value before deciding.

FAQ

Which value affects property taxes?
The assessed, taxable, or equalized value used by your local tax system affects the bill. The label varies by location.
Should assessed value be lower than market value?
Sometimes. Some jurisdictions assess at a percentage of market value or cap taxable growth. Others aim to assess near market value.
Can I appeal if market value is lower than assessed value?
Possibly. You need to check local rules, assessment ratios, deadlines, and evidence requirements.
Free assessment checker Property tax calculator by address Assessment too high? Property tax assessment too high? How to tell before you appeal. Lower your bill How to lower property taxes without guessing. Appeal guide How to appeal a property tax assessment.
Value sanity check

Know which number you are challenging.

A free first look helps connect assessed value, market value, ratios, and local rules before you decide on an appeal.

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