Why do assessed values change each reassessment?

Property values can change for many reasons. The most obvious are changes to the property itself, for example, an addition, garage, swimming pool or other improvements, or if the property is destroyed by flood or fire.

Additionally, property values change as a result of what other similar properties are selling for. When sale prices indicate new trends then the assessments need to reflect those changes. Buyers and Sellers dictate market value by their transactions in the marketplace. It is important to note that the assessor does not create this value. The assessor simply has the legal responsibility to study those transactions and appraise your property accordingly.

Show All Answers

1. Why do we have property tax?
2. What is the authority given by state to conduct reassessments?
3. What is the definition of market value?
4. How is property appraised?
5. Why do assessed values change each reassessment?
6. How can a change be made without an interior inspection?
7. Do you have to let the assessor in when an inspection is requested?
8. How can my assessment change if I haven't done anything to my property?
9. Why do some properties increase more than other properties?