HOW CAN MY TAXES INCREASE?
When additional taxes are voted by the people, an individual’s property tax bill will increase. Also, when market value increases, naturally, so does the assessed value. If you make improvements to your existing property, for instance, add a garage, an additional room, or a swimming pool, the “fair market value” increases, therefore, the assessed value would also increase. The assessor has not created the value. People make value by their transactions in the marketplace. The assessor simply has the legal and moral responsibility to study those transactions and appraise your property accordingly.