Assessed value is the dollar value assigned to a home by a tax assessor. This assessed value of the home is used to calculate real estate taxes.
Here in Broward a public tax assessor is called Broward County Property Apraiser and Marty Kiar has this postion right now.
Assessors provide assessed valuations annually, which gives the basis for a property owner’s annual property tax. The assessed value ususally changes from year to year, so the property tax also changes every year.
The assessed value takes into account the overall quality of the home, property values, square footage, home features and market conditions. it takes into consideration comparable home sales and inspections of the property.