Assessment
Please see the FAQs section
, Finance Category for answers to Frequently Asked Questions (FAQ).
Fairness
Property assessment promotes fairness by ensuring that two similar properties within a similar geographic area will be assessed and taxed at the same rate. All property values change over time, but not all change at the same rate. Some properties increase in value faster than others. If assessed values are not updated as market values change, some taxpayers would soon pay a disproportionate share of taxes compared to current values. To maintain a fair sharing in the tax rate between properties, assessed values must be up-to-date.
Assessment
Please see the FAQs section
, Finance Category for answers to Frequently Asked Questions (FAQ).
Fairness
Property assessment promotes fairness by ensuring that two similar properties within a similar geographic area will be assessed and taxed at the same rate. All property values change over time, but not all change at the same rate. Some properties increase in value faster than others. If assessed values are not updated as market values change, some taxpayers would soon pay a disproportionate share of taxes compared to current values. To maintain a fair sharing in the tax rate between properties, assessed values must be up-to-date.