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Residential property taxes

Learn more about how we assess and tax residential property.

How we assess residential property

We assess your property each year at market value. We define market value as what a willing buyer would pay to a willing seller.

For taxes paid this year, we value most properties as of January 1 of last year. State law mandates the January 1 date.

How residential property tax is calculated

Our residential appraisers use 2 value methods:

  1. Sales comparison approach: Compares your property to sales of comparable properties.
  2. Cost approach: Estimates the replacement cost of the new structure or structures. It then subtracts depreciation and adds the land value.


Then, we calculate your tax based on the following:

  • The assessed value of your property
  • The total taxable property value in your community
  • Voter-approved measures
  • Budgets adopted by your local governments

The final amount depends on the cost of state and local government. Your taxes help fund schools, roads, parks, libraries, hospitals, and fire districts.

An increase in property value doesn't represent a dollar-to-dollar increase in property taxes.

Related tasks

How is your property assessed?

Watch a video to learn more.