How is my Assessment Established?

Once the estimate of market value has been determined, the assessor calculates a percentage of that value to arrive at assessed value. The percentage is based on the classification, determined by the type of property or how it is used. The percentages are:

Real Estate

Residential 19%
Agriculture 12%
Commercial & all other 32

Personal Property

Historic Autos 5%
Farm Equipment, Livestock 12%
Grain ½%
Cars, Boats, Other 33 1/3%

As an example, a residence with a market value of $50,000 would be assessed at 19%, which would place its assessed value at $9,500. An automobile with a market value of $10,000 would be assessed at 33 1/3%, or $3,333.