How are Reappraisal Values Established?

How are Reappraisal Values Established?

Your reappraisal value is based on these key factors:

To determine the fair market value of your property, our office:

It is important to remember that buyers and sellers in the market place establish fair market value -- not the Assessor. The Assessor compares these verified sales to properties of similar size, age, location, and description to complete the evaluation process. This ensures that property values reflect current market conditions as of January 1 of the reappraisal year.

How Does the General Maintenance of Property Affect Reappraisal Value?
The reappraisal value is not affected by the general maintenance of property. Repairs such as a new roof, fresh interior/exterior paint, or landscaping neither add to nor detract from the value in the Assessor's records. While these types of repairs can be costly, they are considered to be normal maintenance expenses that all properties incur over time.

How Does Structural Damage Affect Reappraisal Value?
When structural damage causes property to be structurally unsound, the reappraisal value may be affected. A field inspection of the property is required to determine the extent of the impact.