Will types of property be valued differently?

All properties will be valued at their full market value. Analysis of market sales will aid in determining to what extent differences in properties affect their value. Building styles, size, condition, and location may affect property values differently. Similarly, commercial property values will be affected by property type, rents, expenses, and investment risk.

Show All Answers

1. Who determines when a reassessment is done?
2. Will types of property be valued differently?
3. What sales will be used in determining market value?
4. Will all the homes in the City be inspected?
5. Since not all homes in the City will be inspected, should I do anything to ensure that the information the City has on record is accurate?
6. Will assessed values change as the market values of residential homes change?
7. Will my new assessment be exactly the same as my recent purchase price?
8. What if I disagree with the new assessment?
9. When will new values from the reassessment impact tax bills?
10. Will the City receive additional taxes from the reassessment?
11. How does the update coincide with the budget process?
12. How likely is it that my taxes will increase or decrease?
13. Are commercial, industrial, apartments and other types of property being reassessed?
14. Who are the various parties that are conducting and overseeing the reassessment