Which term refers to lower valued properties being assessed at a lower rate than higher valued properties?

The term that refers to lower valued properties being assessed at a lower rate than higher valued properties is regressivity. This concept indicates that the assessment system disproportionately places a heavier burden on lower-valued properties, resulting in them paying a relatively higher percentage of their value in taxes compared to higher-valued properties.

In a regressive system, as the value of a property decreases, the effective tax rate tends to increase, which can create an inequitable situation among property owners. This highlights the issues of fairness within the assessment process, where individuals with less wealth may face a greater tax burden than those who own more expensive properties.

Progressivity, on the other hand, refers to a system where higher-value properties are taxed at a higher rate, which promotes tax equity. Equitability involves fairness in taxation, ensuring that similar properties are assessed equally, while proportionality relates to the idea that tax liabilities reflect property values in a consistent manner. None of these concepts accurately describe the situation where lower-valued properties are assessed at lower rates compared to higher-valued properties.