The Assessor determines the full cash value of property on its base year date. This base year value will be factored by an inflationary factor not to exceed 2 percent each year until the property is transferred at which time a new base year is established. A new base year is also established for new construction. Full Cash Value or Fair Market Value means the amount of cash or its equivalent which property would bring if exposed for sale in the open market under conditions of which neither buyer nor seller take advantage of the other. Property on which the property taxes are a lien against real estate.
Business inventory is exempt from taxation.
Direct charges against property which are included in the total amount of your taxes but are not determined by the Assessor. Sewer and school bonds are examples of special assessments.