What is the Capped Value?

The taxable value can increase from year to year by 5% or the amount of the consumer price index, whichever is less. Additions or losses to the property are also taken into consideration. The formula is the previous taxable value, minus losses, multiplied by 1.05 % or the consumer price index, whichever is less, plus any additions equals the Capped Value

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1. What is Taxable Value?
2. What is State Equalized Value (SEV)?
3. What is the Assessed Value?
4. What is the County Equalized Value?
5. Am I allowed to view my appraisal records?
6. How do I get an appointment with the Board of Review?
7. What if I am not satisfied with the Board of Review decision on my appeal?
8. What is the Capped Value?
9. What if I am unhappy with the assessed value or taxable value on my property, what can I do about it?
10. What if I’m out of town during the March Board of Review, how can I lodge an appeal?
11. When are the assessed values for each parcel determined?
12. What authority does the Township have in order to place a value on my property for property tax purposes?