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?
The assessment is based on "fair market value." Whether you did your own construction work or hired a contractor, the end value is the same. An additional improvement to the existing structure adds what is called "contributory value."

The value is not based on the cost to improve it, but on the value it contributes to the overall worth of the property.

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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?