Property TaxesHomebuying Glossary
Tax Assessment
The official process and result of a local assessor determining your property's value for tax purposes.
In plain English
A tax assessment is conducted periodically by your local government to determine (or update) your property's assessed value, which then determines your property tax bill for that cycle.
Why it matters
Reassessments can raise your tax bill even if you haven't done anything to the home — it's worth understanding your local reassessment schedule.
Where you'll run into it
Guides and tools on TheBuyingPath that cover tax assessment in context.
Related terms
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