What is a primary factor in determining property taxes?

The assessed value of the property is the primary factor in determining property taxes because it represents the value placed on the property by the local tax assessor for taxation purposes. This assessment is typically based on various criteria, including the property's age, size, location, condition, and any improvements made. The assessed value establishes a tax base that local governments use to calculate the amount of property taxes owed, ensuring that tax bills are consistent and fair according to the value of the property.

Local governments often set tax rates, which are applied to the assessed value to determine the total tax due. Therefore, knowing the assessed value is crucial for property owners to understand their tax responsibilities. While factors like location, size, and current market trends can influence assessed value, they are not direct determinants of property taxes; instead, they serve as influences in the assessment process.