What is Assessed Value - Keygent

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This content was originally published by Keygent Managing Member, Chet Wang.

Assessed value (“AV”) is the dollar amount of taxable property within district boundaries on a county assessor’s roll.

What is taxable property?

Taxable property includes residential property such as single family homes, condos and apartments, and non-residential property such as commercial, industrial and agricultural properties. Certain types of property are excluded from AV such as government, nonprofits and churches

Is AV the same as a property's market value?

AV is not the same as a property’s market value. Tax rates are levied against AV, not market values. Under Proposition 13 (which was approved in 1978), annual AV for a property cannot increase by more than the lesser of 2% or the California Consumer Price Index. If market values have increased at a higher rate than the Proposition 13 limits, then the AV will be lower than market values.

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