What percentage of appraised value is considered the current assessed rate for property tax purposes?

The current assessed rate for property tax purposes in Guam is set at 90% of the appraised value. This means that when determining how much property tax an owner owes, only 90% of the market value of the property is used in the calculation. This assessment method helps to ensure that property taxes are based on a realistic evaluation of property value while considering fair taxation rates.

The system uniformly applies the 90% assessed value to all properties, establishing consistency and predictability for property owners in terms of tax obligations. Higher or lower percentages would alter the overall tax burden on property owners and could have significant implications for revenue generation by local government.

In contrast, percentages such as 80%, 70%, or 100% would not reflect the established rate used for property tax assessments in Guam, leading to potential overtaxation or underfunding of local services based on inaccurate assessments.