How does an appraiser value my property and why is the Assessor's valuation lower than a fee appraisal?

The Assessor's valuation may differ from a value estimate from a fee appraiser. Many reasons may explain the difference. One is that the Assessor's "effective date of valuation" is a fixed time in the past. The effective date of valuation for the Assessor's office for a given year is January 1 of the previous calendar year. A fee appraiser usually values a property as of a recent inspection date. Another reason is that recent legislation limits increases on the valuation for assessments on residential properties. Business Personal Property The Assessor is required by state law to assess business equipment. Tangible personal property is property "that is used, produced, manufactured, held for sale, leased or maintained by a person for purposes of the person's profession, business or occupation; and for which the owner has claimed a deduction for federal income tax purposes during any federal income taxable year occuring in whole or in part during the twelve months immediately ...  more