Frequently Asked Data and Value Questions
When will my newly constructed home be valued?
March 1st is our taxable status date. Progress/status of any construction is valued as of this date. If construction is only partial completed, a partial value will be issued. Any partial completions are re-evaluated for the next taxable status date.
I bought my house for less than the current assessment. Why didn’t my assessment change to the sale price?
The assessor does not automatically change an assessment to the sales price. One sale does not make the market. Assessment values are based on the market value of the property. The property’s sale price is analyzed and compared to sales of similar properties. If the sale price is due to physical condition(s), the assessor would require proof of such condition(s). If the sale price is due a sale condition, (i. e. estate sale, foreclosure, short sale, relocation, related parties), the sale price may not be a “good” sale (see glossary terms: arms length, market value, qualified sale). These type of sales may not be used to determine the market value.
How do I know that the assessor has the correct information about my property?
Because the information about your property will be used to determine your assessment, it is in your best interest to make sure that your assessor’s data is correct for your property. You can check with your assessor’s office to receive a listing of the information pertaining to your property.