02/19/2026
It’s that time of year again….Property owners are beginning to receive their annual Assessment Notice or will be receiving it in the mail soon ✉️
Your Assessment Notice contains several values. Here is a quick overview of what these values are:
🔹Assessed Value = approximately 50% of your property’s true cash value (market value) 🏠
🔹Taxable value = is used to calculate your property taxes and is the lesser of Capped Value or Assessed Value
🔹Capped value = the value you pay tax on each year is capped at the prior year's Taxable Value times the CPI
⭐️A Taxable Value “uncaps” in the year following a transfer of ownership. It will be uncapped and equal to the Assessed Value for that year.
⭐️The increase of Assessed or Taxable Value shown on your notice does not mean you will pay that much more in taxes. There is a box on the notice that shows the approximate amount your annual tax obligation will increase/decrease.
If you have questions about your Assessment Notice or if you would like to review your property record card, please contact your City or Township assessor.