Taxable Value

Definition: Taxable value is the assessed value remaining after the exemptions applicable to a particular property tax are deducted.

Example

If an exercise gives $180,000 assessed value and a $30,000 exemption applicable to that levy, its taxable value is $150,000.

Keep the distinction clear

Different taxing authorities may use different taxable values because exemptions do not always apply to every levy. Use the question's stated year and applicable exemption rules.

Related terms

Assessed Value · Millage · Homestead (Florida)

Keep studying

Homestead Exemptions and Property-Tax Math

References: Florida Department of Revenue: the property tax system

Pronunciation (US): TAK-suh-buhl VAL-yoo (capitals show stress)

Pronunciation reference: Merriam-Webster