Quote:
Originally Posted by Hammertime
My 2015 property assessment is exactly the purchase price I paid last summer, on a house that had a contract without any conditions left before July 1, but didn't close until August. I didn't think that the assessments were based on actual sales data but based on some kind of estimated formula.
Is this a fluke or was I mistaken? The assessment went up 32%.
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They do have access to those sales prices. And they do note on their assessment notice:
"An
assessment is based on the market value of the property on
July 1, 2014 and the property's characteristics and physical condition on
December 31, 2014."
As for their methodology, I have no idea. Perhaps other people have better insight.