How is my property valued?
Valuation is based on "full and fair cash value," the amount a willing buyer would pay a willing seller on the open market. Assessors first inspect the property to record specific features of the land and buildings that contribute to its value. Size, type, quality of construction, number of bedrooms, baths, fireplaces, type of heating system are all examples of the data collected and listed on the individual property record cards.

Using these facts, the assessors determine the value of property by choosing the assessing methodology that most accurately reflects the real estate marketplace. The 3 methods of appraisal are described in detail on the following page:

How Property is Valued

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1. How is my property valued?
2. What happens to the value if I improve or repair my property?
3. I did my own construction work to save money. Why did the assessed value go up as high as if I hired a contractor? Why doesn't the new value reflect the actual cost of the work?