Once the estimate of market value has been determined, the assessor calculates a percentage of that value to arrive at assessed value. The percentage is based on the classification, determined by the type of property or how it is used. The percentages are:

Real Estate

Residential 19%
Agriculture 12%
Commercial & all other 32%

As an example, a residence with a market value of $100,000 would be assessed at 19%, which would place its assessed value at $19,000.