What is the purpose of notifying property owners of the full and true value of their properties?

The purpose of notifying property owners of the full and true value of their properties primarily revolves around ensuring transparency in property tax calculations. By providing this information, property owners can understand how their property's assessed value contributes to the local tax system. This transparency is critical, as it allows property owners to see how their tax obligations are determined and offers them the opportunity to question or appeal their assessed value if they believe it to be inaccurate.

This practice is a fundamental aspect of the appraisal process, promoting fairness and accountability within the community. When property values are communicated clearly, it helps uphold trust in local governmental assessments and the overall taxation system, ensuring that property owners are aware of their financial responsibilities. The notification process thus serves to demystify the valuation and assessment methods used in property tax calculations, creating a more informed and engaged citizenry.