Frequently Asked Questions




VALUATION

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1. What is "Just Value"?

It is another way of saying Market Value.

2. Why does my property value change every year?

One of the duties of the Property Appraiser is to determine the value of all properties as of January 1 each year. These values are based on market information such as sales and income data.

3. How did you determine the value of my property?

Each assessment year the Property Appraiser's Office analyzes the sales and income data from the prior year to establish values. Nationally accepted valuation methods are utilized which are the sales comparison approach, the cost approach and income valuation. Mass appraisal techniques are used to apply the values to each property equitably.

4. My house is just like my neighbor's, why are my taxes higher?

This is most likely due to the difference in benefits applied to each of the properties. Remember, taxes are paid on the Assessed Value of a property, and each year that Assessed Value can only rise 3% or the Consumer Price Index, whichever is lower. Therefore, it your neighbor has been homesteaded since 1994 and you have owned your home since 2005, the 1994 home will have been "locked in" at a lower starting Assessed Value than the home purchased in 2005.

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