What is the best way to review my assessment?

Take the following steps: 1) go to the tax assessor and obtain your assessment-record card; 2) review the card and discuss any questions or errors with the assessor; 3) determine your equalized assessment (see below); 4) estimate the property’s market value; and 5) compare the value estimate with the equalized assessment.

The board’s main focus will be on whether your equalized assessment exceeds the property’s market value. Use the following to calculate your equalized assessment.

Equalized Assessment = $ Assessment ÷ applicable equalization ratio

Example: Assessment = $120,000

Equalization ratio = 1.20 (available from municipality and reflects generally how assessment values compare to market values). A 1.20 ratio means assessed values generally exceed market values. $120,000 ÷ 1.20 = $100,000. You would then ask: was my property worth $100,000 (the equalized value) on April 1 of the tax year?