{"id":210450,"date":"2024-02-02T19:15:34","date_gmt":"2024-02-02T19:15:34","guid":{"rendered":"https:\/\/namso-gen.co\/blog\/am-i-taxed-on-my-home%ca%bcs-sev-or-assessed-value\/"},"modified":"2024-02-02T19:15:34","modified_gmt":"2024-02-02T19:15:34","slug":"am-i-taxed-on-my-home%ca%bcs-sev-or-assessed-value","status":"publish","type":"post","link":"https:\/\/namso-gen.co\/blog\/am-i-taxed-on-my-home%ca%bcs-sev-or-assessed-value\/","title":{"rendered":"Am I taxed on my home\u02bcs SEV or assessed value?"},"content":{"rendered":"

When it comes to property taxes, many homeowners are confused about whether they are taxed on their home’s State Equalized Value (SEV) or assessed value. The simple answer is that property taxes are based on a home’s SEV, not its assessed value.<\/p>\n

The SEV is determined by the local assessor’s office and is used by the city or county to calculate property taxes. It represents the assessor’s estimate of what your property is worth in the current real estate market.<\/p>\n

On the other hand, the assessed value is used by the local government to determine property taxes, but it is typically only a percentage of the SEV. The assessed value may be calculated based on factors such as property improvements, market conditions, and the millage rate set by the local government.<\/p>\n

It’s important for homeowners to understand the difference between SEV and assessed value to accurately calculate their property taxes. By knowing that property taxes are based on the SEV, you can better prepare for potential tax increases or disputes.<\/p>\n

Now, let’s address some related FAQs to help clarify this issue further:<\/p>\n

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