Pittsfield township fire9/20/2023 Improvements to the property will also increase the capped value more than the rate of inflation. Capped Value: Capped value adjusts year to year by 5% or the consumer price index (CPI), whichever is lower.The County Board of Commissioners and the State Tax Commission must review local assessments and adjust (equalize) them if they are above or below the constitutional 50% level of assessment. State Equalized Value: SEV is the assessed value that has been approved following County and State equalization.Assessed Value: The assessor is constitutionally required to set the assessed value at 50% of the usual selling price.What do the terms assessed value, state equalized value, and taxable value mean? Information can be found online by visiting Property Tax and Assessment Info. Where can I find information about a piece of property? Please click on our Assessment Notice FAQ for more information 2.
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