What is Capped Value?

Capped Value (CV): The formula is: Previous year's Taxable Value minus Losses (physical changes to the property) times the Consumer Price Index (CPI) or 5%; whichever is less, plus Additions (physical changes to the property), (TV-Losses multiplied by CPI (5%) plus Additions equals CV)

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1. What is the role of the Assessor?
2. How is your property value estimated?
3. What causes property values to change?
4. What is the 20% parcel review?
5. What is a State Equalized Value?
6. What is Capped Value?
7. What is Taxable Value?
8. Why isn't my new assessment 50% of my purchase price?
9. Sales prices are going down in my neighborhood, why hasn't my assessment gone down?
10. When can I appeal my assessment?
11. What happens if I'm not happy with the decision of the March Board of Review?
12. How do I qualify for the Principal Residence Exemption?