I paid xxxxx dollars for my house. Why isn it assessed for that?
With the exception of agricultural land, real estate is assessed at current market value. The current market value for assessments are established every odd numbered year and based on actual sales from the previous year. The Assessor’s Office looks at all arms-length sales in the County, in a particular town, and of a certain building style to determine assessment for a number of properties at once. An individual property may sell higher or lower than the assessed value for a number of reasons. There may have been a change in the property since our office last inspected the property. The change could have been something that would raise or lower the value. These changes could include such things as a new garage or addition, a deck, new siding or windows, a garage or deck removed, or the overall condition of the dwelling has depreciated beyond what it would normally. Sometimes, one may be willing to pay more for a specific feature in a particular property, or the seller may be willing t
