How to Read Your Property Tax Assessment Notice (And What to Look For)

Your property tax assessment notice is one of the most financially significant pieces of paper you’ll receive all year. Most homeowners glance at it and file it away. Here’s how to actually read it — and what to look for.

What the Notice Is (and Isn’t)

Your assessment notice tells you what your local assessor’s office believes your property is worth for tax purposes. This is your assessed value — and it directly determines your property tax bill. It is not the same as market value. Many jurisdictions assess at a fraction of market value using an assessment ratio.

Key Fields to Check

1. Property Description

Find the section describing your property’s physical characteristics: square footage, bedroom and bathroom count, lot size, year built, garage, basement finish. Compare every line against reality. Errors here are common and easiest to challenge.

2. Land Value vs. Building Value

Most notices break the assessment into land value and improvement (building) value. If either seems disproportionate to comparable properties nearby, that’s a potential basis for appeal.

3. Exemptions Applied

Check that all exemptions you’re entitled to — homestead, senior, veteran, disability — are reflected on the notice. If you recently became eligible for an exemption and it’s not showing, that’s money you’re leaving on the table.

4. The Appeal Deadline

This is the most important item on the notice. Every jurisdiction sets a deadline for filing an appeal — and once it passes, you have no recourse until the following year. Note the deadline immediately. Set a calendar reminder.

Request Your Property Record Card

Your assessment notice shows you the conclusion — your assessed value. Your property record card shows you the work behind it. Request it from your local assessor’s office. It’s almost always free. Comparing it against your notice and your property’s actual condition is the most important step in evaluating whether your assessment is accurate.

Common Red Flags

• Square footage listed higher than your actual measured space
• A basement listed as finished when it’s unfinished
• Extra bathrooms or outbuildings that don’t exist
• Exemptions you qualify for that aren’t reflected
• An assessment increase that significantly exceeds what comparable properties received

Any of these is worth investigating. The assessor’s office has no incentive to find errors for you. See our full guide on how to appeal your property tax assessment if you find something wrong.