6 Property Tax Key Terms

Six Key Terms from TravisCAD on Vimeo.

https://vimeo.com/354266288

Determined by the Appraisal District:

  • Market Value= What the property would sell for
  • Assessed Value= The limited property value after exemptions are applied
  • Taxable Value= The property value you pay taxes on

Determined by the Taxing Units & Elected Officials:

  • No New Revenue Rate= The reset button on taxes.  The tax rate that would generate the same amount of tax levy as the last year.
  • Voter Approval Rate= The maximum tax rate that a taxing unit can adopt.
  • Adopted Rate= The tax rate adopted by the taxing unit.