How do I calculate the equalized assessment of my property?
To determine the equalized assessment, divide your assessed value by the equalization ratio. For example: say your property is assessed at $360,000 and using a hypothetical equalization ratio of 90%, $360,000 ÷ 0.90 = $400,000. This would be the equalized assessment or approximate market value of your property as of April 1 of the year with that particular ratio. The tax year runs from April 1st to March 31st. Also bear in mind that the equalization ratio is an average figure which is derived from sales that may include many types of properties: commercial, residential, industrial, vacant land, etc.

Show All Answers

1. How is property appraised in Bow?
2. How can I check the ownership or assessed value of a property?
3. What is fair market value?
4. How do values change from year to year?
5. How do I calculate the equalized assessment of my property?
6. What is the Equalization Ratio?