Language of Assessment: Terms M - Q

Language of Assessment: Terms M - Q


Mass Appraisal - is the process of valuing a universe of properties as of a given date, utilizing standard methodology, employing common data, and allowing for statistical testing. The goal of mass appraisal is the same as fee appraisal: to develop a reasonable estimate of fair market value 

Mill - Literally, one thousandth. For tax purposes: $1 of taxes for every $1000 of assessed value. 

Mill Levy - is the number of dollars in taxes that a property owner must pay for every $1,000 of assessed value. This amount is based on budget requests from various taxing entities. 

Neighborhood boundaries - are developed by the assessor based on physical, economical, governmental, or social factors. These neighborhood boundaries are used when sales studies are done. 

NOV (Notice of Value) - Also referred to as assessment schedule. 

Parcel Number - The Parcel Number or Local Number is the same as the Tax ID Number assigned by the Assessor’s Office. It is shown on your tax bill and used by the Treasurer’s Office in identifying your tax payment for that particular parcel. The first two digits of this nine-digit number reference the tax district where the parcel is located. Each parcel has three different numbers associated with it: Account Number, Tax ID / Parcel Number, and GEO Number / PIDN. 

Personal Property - Every kind of property that is not real property; it is movable without damage to itself or the real estate; and subdivided into tangible and intangible property. 

PIDN - PIDN stands for Parcel Identification Number. This 14-digit number is also called a Geo Number because it is based on Township and Range. The first two digits reference the Township and the next two digits reference the Range. Each parcel has three different numbers associated with it: Account Number, Tax ID / Parcel Number, and GEO Number / PIDN. 

Property Record Card - An assessment document with blanks for the insertion of data for property identification and description, for value estimation, and for property owner satisfaction. 

Property Tax Appraiser - is the designation given to those persons who have completed the education and training mandated by the State of Wyoming for anyone making a valuation judgment used as a basis for property taxation 

Quit Claim Deed - A form of conveyance in which any interest the grantor possesses in the property described in the deed is conveyed to the grantee without warranty of title.