how do you determine the appropriate property tax value?

You can view taxes on our new www.totalviewrealestate.com site. If the property is not listed there you can pull them up on your county assessor's website.

thanks, but i was wondering if there is a way to determine if the values are high or low, not necessarily the number. Does a property owner's taxes change according to how long he/she has been in his/her home? thanks for your input

Go to your county tax collector's site not the assessors to get the exact amt of the owner's taxes. Even request for the owner to show you their tax bill if their willing to see what they pay in taxes annually for their property. See if they have any tax exemptions. Now that doesn't necessarily mean you or your buyer will qualify for same exemptions that the current owner has other than home owner's exemption if you plan on occupying the property has your permanent residence. It also depends on the millage rate that city, municipal or county where the property is located, charges for that year's tax budget and location (where at in the City or County, the dwelling is) and how long the current owner has been in their home. Those are reasons why their taxes are either high or low

Here is an example of how taxes work in my state. The county assessor determines a "market value" for the property. This is usually determined by a formula using square footage, lot size and recent sales in the area. The assessor's market value is not necessarily what the property would sell for since the assessor rarely go inside properties to determine their condition. In my state they amend the "market value" every other year. The actual tax charges are determined by taking the market value times an assessment factor, 30% for commercial property, 19% for residential and 7% for rural/agricultural properties. The assessment factor is set by the state legislature.

Market Value Factor Assessed Value Tax Rate Tax Due
$100,000 (30% commercial) $30,000 .125 $3,750
$100,000 (19% residential) $19,000 .125 $2,375
$100,000 (7% agriculture) $7,000 .125 $875

You see how the different types of properties pay substantilly different amounts of tax based on thier use. You can also run into "homestead exemptions" and other things that give breaks to homeowners.