How close to actual value does the Assessor need to be?

State law requires assessors to value property at market value. Because it is statistically impossible to value at market value, state standards require assessors to value property between 90 and 105 percent of market value. This measure is based on the total number of sales, not just on an individual sale.

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1. What is market value?
2. How does the Assessor determine market value?
3. How close to actual value does the Assessor need to be?
4. How come values go up each year when no improvements are made to the property?
5. What kinds of improvements add to market value?
6. Will making repairs increase the estimated market value?
7. What can I do if the estimated market value or property classification is wrong?
8. What are the requirements for homestead?
9. Does an increase in estimated market value always mean an increase in property tax?