Tax Offices

Synonym: 
tax

Tax Terminology

Ad Valorem Tax:  Ad Valorem means “according to value”. An ad valorem tax is a property tax based on the assessed value of the property, which may or may not be equivalent to its market value.

Appraised Value:  Also known as “market value”. This is the value before any exemptions or deferrals are applied. Appraised value is the most probable price the property would sell for in the open market between a willing seller and an able buyer.

Exemptions, Exclusions, & Deferment

Under specific circumstances, property owners may be eligible for reduced taxes or participation in other deferment or special programs. Currently, certain programs exist for property owned by elderly or disabled persons, disabled veterans, non-profit organizations, commercial farms, and wildlife management.

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