Why did my assessment go up this year?

Property owners do not need to make improvements to their property for their assessment to change. Since the assessed value is to reflect fair cash value, as real estate values rise or fall, the assessed value will follow. All properties do not change by the same percentage. Factors in the market place like supply, demand, interest rates, and amenities determine the value of your property.

Other reasons for a change in assessed value include additions to your property or permanent damage to your property. Property owners have a responsibility to report any changes made to their property that could affect value to the Property Valuation Administrator (PVA).

Remember, the PVA does not create value. It is the PVA’s legal responsibility to discover and estimate the worth of all property. Transactions that occur in the market place determine value.

Show All Answers

1. How do they come up with an assessment?
2. Why did my assessment go up this year?
3. Why does the person down the street with all the land have a lower value than mine?
4. If I buy property after January 1, when will I get a tax bill?
5. Why can't I appeal my property value when I get my tax bill?
6. What is the tax rate of an address?
7. I bought my house in July for less than what the tax bill says. Why do I have to pay the higher amount?
8. My neighbor next door gets a reduction in his taxable value. Why don't I?
9. What is the amount for the Homestead / Disability Exemption?
10. Can I get the Homestead/Disability Exemption for commercial property?
11. Will I still be eligible for the Homestead Exemption if I’ve put my property in a Trust?