Assessment Ratio

Ratio of assessed value to Market Value. For example, a county requires a 40% assessment ratio on all property to be taxed. Property with a $10,000 market value is therefore assessed at $4,000 (40% of $10,000), and the Tax Rate is applied to $4,000.

The ratio of assessed value to Market Value.
Example: A county requires a 40% assessment ratio on all property to be taxed. Property with a $100,000 market value is therefore assessed at $40,000 (40% of $100,000), and the tax rate is applied to $40,000.

Of a property, the ratio between its market value and its assessed value.