What Happens in the Even Year?

By |2022-02-28T04:44:49+00:00February 28th, 2022||

For most real estate owners, nothing. However, if new construction and improvements have taken place, the property is reassessed in the even-numbered year — but only to pick up the value that has been added. That value is based upon market conditions as of January first of the preceding year.

What are Assessment and Reassessment?

By |2022-02-28T04:44:49+00:00February 28th, 2022||

Assessment is the process of placing value on a property for the purpose of property taxation. Reassessment is an update of all real property assessments in the county, conducted by the county assessor to equalize values among taxpayers and to adjust values to current market conditions.

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