Equalized assessed value (EAV)
Assessed value after a county-wide multiplier is applied.
Some states apply an equalization factor to bring a county's overall assessments into line with the statutory level. The result is the equalized assessed value, and in those states it is the figure the tax rate is applied to.
Because the multiplier is applied to everyone in the county equally, it rarely helps an individual appeal — it does not change how you compare to your neighbours. What it changes is the arithmetic between your assessment and your bill.
Exemptions are usually subtracted after equalization, which is why an exemption's effect on the bill is not simply its face amount.
Related
- Equalization factor (multiplier) — A county-wide correction applied so counties are assessed at comparable levels.
- Assessed value — The figure your county uses to calculate your tax — not what your house is worth.
- Exemption — A reduction you qualify for by status — and often have to claim yourself.
Property tax is state law and the details differ. For what applies where you live, see coverage by state and your appeal deadline.