How to Understand the 2003 Notice of Change of Assessment

Taxes are computed on the TAXABLE VALUE, NOT the assessed value.

The line with taxable value shows you the change in the value on which

You will be taxed. Example:

	Prior	Current	Change
Taxable Value	43,000	44,376	1,376

The number in the CHANGE space is multiplied by .044 (average homestead millage rate) or .062 ( the average non-homestead millage rate)

Homestead 1376 X .044= $60.54

Non-homestead 1376 X .058 =$85.31

$1376 is the change in Taxable Value but $60.54 is the change in tax dollars .

The percentage of homestead exemption appears next on the notice. If the property is your homestead, the percentage should be 100%. If you believe that this information is incorrect, please contact the Assessing Office.

Proposal A, passed in 1994, provides for taxable value to be "capped" at The rate of inflation until the year following a transfer of ownership. The next line states if there was, according to our records, a transfer of ownership in 2002.  A transfer would cause the State Equalized Value and the Taxable Value to be the SAME. If you believe the transfer information to be incorrect, please contact the Assessing Office.

By law, the State Equalized Value is to be at 50% of True Cash Value.

True Cash Value is defined as the "usual selling price" for a property. The Law prohibits setting the assessed value of a property at one half of its sale price.  The sale prices of all properties in the sales area are considered and then an assessed value is set. An assessed value becomes a State Equalized Valueby applying an equalization factor. If the studies by the County and State show that the assessed values are at an average of 50% of the total of the sales, the State factor is 1.00 and the assessed values and the state equalized values are the same.

Property classifications are:

The Board of Review will meet on:

Any mail received or protest in person after 9:00PM on
Wednesday, March 19, 2003 CANNOT BE CONSIDERED.

If you require further explanation, please contact the Assessor's office

assessor@dhol.org