What are the limitations on Assessed Value?

Assessed value is 20% of value, not all property is at 20% due to limitations set by Amendment 79. If real estate is not at 20% of the value, the increase will be 5%, 10% or no increase. (New construction, newly discovered, change in use or substantial improvement does not qualify for limitation it will be assessed at 20% of its value.)


  • 5% increase: Principle place of residence.
  • 10% increase: All property this is not your principle place of residence.
  • No Increase: Principle place of residence, you are 65 or older or you are disabled (proof of age, proof of disability must be provided in order to qualify for the freeze.)

Show All Answers

1. What is Amendment 79?
2. How do I apply for Homestead Credit?
3. What are the limitations on Assessed Value?
4. Do I have to reapply for homestead every year?
5. Is the homestead automatically applied?