WHY CAN ASSESSED VALUES CHANGE FROM YEAR TO YEAR?
When the market value of a property changes, the assessed value usually changes too.
For example, if you add a garage to your home, its value will likely go up, and the assessed value will increase. If your home is in poor condition, its value may go down, and the assessed value will decrease.
The assessor does not create the value of your property. Buyers and sellers create value through their sales in the real estate market. The assessor’s job is to study those sales and set your property’s value based on what similar properties are selling for.
