Why did my property value increase 3%?

More than likely, the value of your residential property assessment increased because the assessor’s valuation has been capped in prior years while the market was increasing by much more than 3%. The capped value may be very low in relation to the real time market value and therefore may not reflect the current market value. Therefore, it must be reappraised and increased by up to 3% per year.

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1. Should I notify the assessor of a change in mailing address?
2. What does property valuation mean?
3. How are the changes in the value of my property determined?
4. What is the notice of valuation?
5. When is the notice of value mailed?
6. Why did my property value increase 3%?
7. Are there limits on valuation increases?
8. When can I protest my valuation as determined by the assessor?
9. What is the protest process if I disagree with the assessor’s valuation?
10. May I review my records at the assessor’s office for my protest?