WHY CAN ASSESSED VALUES CHANGE
FROM YEAR TO YEAR?
When market value changes, naturally so does assessed value. For instance, if you were to add a garage to your home, the assessed value would increase. However, if your property is in poor repair, the assessed Value would decrease. The assessor has not created the value. People make value by their transactions in the market place. The assessor simply has the legal responsibility to study those transactions and appraise your property accordingly.