Glossary of Terms

See below for an explanation of the terms that are commonly used in the Assessor's Office. 
APN

The APN or Assessor's Parcel Number is for the identification of a specific property.

A property’s value as determined by the sale amounts of comparable properties.

The value placed on the property by the Tulare County Assessor

A property’s original 1975/1976 market value, or its market value at the time of its most recent change in ownership or completion of new construction.

A cadastral map is a comprehensive record of the real estate or real property's metes-and-bounds of a country

A geographical area containing approximately 1,000-2,000 properties of a similar nature.

A property’s cost per square foot, normally determined by dividing the property’s sale price by the square footage of the structure

The number assigned to a recorded document by the Tulare County Assessor's office.

A limited "right" in a piece of land owned by another. This entitles the holder of the "right" to some use of another's land.

A property’s Base Year Value, increased by a maximum of 2% each year for inflation (ie, factored), creating a Factored Base Year Value.

This exemption provides the homeowner with up to a $7,000 exemption on the annual assessment of their owner-occupied residence

Any structures that are built on a piece of land.

The actual value of the land on which a property sits.

The description of the property as documented by the County Recorder.

See Factored Base Year Value

When the market value is less than the Factored Base Year Value as of the lien date in any given year, a property is eligible for a temporary reduction in the taxable value for that year under Proposition 8

Under Proposition 13, real property is reappraised only when a change in ownership occurs, or when new construction takes place

The annual property tax as determined by the assessed value and tax rate

All of the elements that constitute the legal right to own, possess, use, control, enjoy and dispose of real estate. 

The entity that insures the title for the owner of the property

Protects the owner or other insured, such as a lender, against loss or impairment of title. 

An area within a county that is taxed at a particular rate

The date the sale of the property is recorded. 

The code that indicates how a property is being used