I have not done anything to my property, so why is the value changing?

General economic conditions such as interest rates, inflation rates, supply and demand, and local market conditions will influence the value of real estate. As property values change in the marketplace, value adjustments must be reflected on the assessments to assure equitable distribution of the tax base.

The Assessor does not create value, but interprets the real estate market—measuring different economic data, and changes in the real estate market value. Mass appraisal is the process of valuing group(s) of properties as of January 1 of each assessment cycle, using standard methods of valuation, employing common data, and statistically testing for acceptable ratios.

Show All Answers

1. Why is our property being reassessed?
2. I have not done anything to my property, so why is the value changing?
3. What is market value?
4. When was the last reassessment?
5. What are the basic data collection procedures for reassessments?
6. What is the difference between sale price, appraisal and assessments?
7. How is the property value determined?
8. How does a property owner learn of their reassessment value?
9. What do I do after receiving my reassessment?
10. How does a property owner appeal reassessment value?
11. Can I research or view other property assessments?
12. What do I do if information on my real estate reassessment appears to be wrong?
13. Is it true that the Assessor reassesses to raise taxes?
14. How do my real estate and personal property assessments determine my tax bill?