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Assessed Value vs. Fair Market Value Assessed Value ÷ 2024 Equilization Rate = 2024 Full Mkt Value $ 100,000.00 0.595 $ 168,067 $ 150,000.00 0.595 $ 252,101 $ 200,000.00 0.595 $ 336,134 Assessed Value ÷ 2025 Equilization Rate = 2025 Full Mkt Value $ 100,000.00 0.52 $ 192,308 $ 150,000.00 0.52 $ 288,462 $ 200,000.00 0.52 $ 384,615 Assessed Value ÷ 2026 Equilization Rate = 2026 Full Mkt Value $ 100,000.00 0.5 $ 200,000 $ 150,000.00 0.5 $ 300,000 $ 200,000.00 0.5 $ 400,000 You are taxed on the assessed value, The drop in equalization rate is why less any exemptions… which only your market value may have changed changes upon additions to your on your tax bill every year despite no property or re-assessments changes to your property (may not change for multiple years) 39