Understanding How Homeowner's Property Taxes are Calculated Property taxes are essential to homeownership, but understanding how they are calculated can feel like unraveling a complex puzzle. However, by unlocking the secrets of property tax calculation, homeowners can gain valuable insights into their tax obligations and make more informed financial decisions. This article will demystify the property tax calculation process, providing homeowners with a comprehensive understanding of the factors involved. Understanding Assessed Value - The first piece of the property tax puzzle is the assessed value of your home. Assessed value refers to the value assigned to your property by the local taxing authority for tax purposes. It is typically determined by professional assessors considering various factors such as property size, location, improvements, and recent sales of comparable properties. Understanding how assessed value is determined is crucial, as it forms the foundation for calc