Assessed and Taxable Values

  1. Assessed Value
  2. Taxable Value

Since the beginning of Proposal A in 1994, overall increases in SEV have generally been greater than the increase in taxable value capped at the CPI. The longer a property has been owned and capped, the greater the gap between the SEV and taxable values.

This example illustrates a property purchased in 2013 and uncapped in 2014. We will also assume that there has been no demolition or construction during this time. For further illustration, this property will also sell during 2020.

Tax YearIRMAssessed ValueCapped ValueTaxable ValueTaxable Value Determinded By
20141.01666,50061,79266,5002013 transfer of ownership
20151.01669,80067,56467,564CV is the lower calculation
20161.00373,20067,76667,766CV is the lower calculation
20171.00976,10068,37568,375CV is the lower calculation
20181.02178,40069,81069,810CV is the lower calculation
20191.02483,10071,48571,485CV is the lower calculation
20201.01988,10072,84372,843CV is the lower calculation
20211.01492,50073,86292,5002020 transfer of ownership
20221.03398,10095,55295,552CV is the lower calculation
20231.05107,900100,329100,329CV is the lower calculation

In this example, taxable value will never be higher than the SEV.

Breaking it Down

In May of 2013, this home was sold. At the time of sale, this home had a current SEV of 63,300 which indicated the value of this home was $126,600 on December 31, 2012 (tax day). It also had a taxable value of $47,200. This means that the home was worth $126,600 but it was taxed as if it were worth $94,400 (2x taxable value). This is Proposal A in action. Prior to Proposal A, homeowners were taxed on the SEV.


In 2014, the property "uncapped" and the 2014 taxable value was equal to the SEV.

2015 to 2020

During the years of 2015 to 2020 the market value of this home increased as reflected in the increase in the SEV. The taxable values also increased, but at a lower rate than the market value. Over time you can see a gap between the SEV and TV. This is because the assessed and taxable values increased at different rates.


In 2020, the property transferred ownership, so the taxable value uncapped to become equal to the SEV for 2021.


In 2023, the taxable value increased by the rate of inflation.