What is the difference between assessed value and market value?

The assessed value is 70% of the appraised market value and is used as the basis for determining the property taxes. Market value is the typical price that a willing buyer would pay a willing seller if the property were offered on the open market, granted the buyer and seller are not related in any way or under any pressure to buy or sell.

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2. How do I correct an error on my property?
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5. What is the difference between assessed value and market value?
6. What is my "fair share" of property tax?
7. How do I obtain information on a property in Greenwich?
8. What if I believe that my assessment is incorrect?
9. What is a revaluation?
10. When and where can I file for Senior Homeowner Tax Relief Benefits?
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12. How did you arrive at the value of my automobile?