Why do assessments go up when a property hasn't changed?

Since assessments must be set by market value, changing real estate values in the community will be reflected in the assessments. Market value is a product of the prices paid for the property. As prices increase/decrease, so does market value.

All properties do not change in value to the same degree. Many factors influence values. Those properties with water or scenic views, for example, may well increase more rapidly than others.

Show All Answers

1. What is market value?
2. How are properties appraised?
3. Why does the assessed value change from year to year?
4. What is capped value?
5. Why do assessments go up when a property hasn't changed?
6. How do you determine your tax bill?
7. What are your rights and responsibilities?
8. What is capped value?