HomeProtestsAppraisal TerminologyWhat’s the difference between market, appraised, assessed, and taxable value?

4.1. What’s the difference between market, appraised, assessed, and taxable value?

The whole concept of market value vs appraised vs assessed vs taxable value is pretty confusing! Let’s work through it.

**Market value** is the value at which a property will sell for on an open market. There are caveats to that definition, but that's the basic, easy to understand version.

**Appraised** value almost always equals market value, unless special or agriculture valuation is involved.

**Assessed** value is the appraised value minus any homestead cap reductions.

**Taxable** value is the amount you pay taxes on. Taxable value is assessed value minus any exemptions applied to your property.


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