CCP 06-26-1995 - Laserfiche WebLink

Home Browse Search

I I . - The second reason for a valuation change is that even in a stable market, if a I property, based on an analysis of sales, is perceived to be under-assessed either in relation to comparable properties or to the ''target'' level of assessment, the valuation I may increase. This results partially from the dynamic real estate market, which has different rates. It also is a result of continually attempting to improve the mass appraisal I system to treat all property in a uniform manner. This "fine tuning" of the assessment causes some properties to receive larger valuation increases than other properties. The Commissioner of Revenue requires a level of assessment between 90 and 105 I percent of market value. It should be noted that an increase in valuation will not necessarily result in an I increase in tax. Increased taxes are the result of increased government spending. If the tax base increases and spending remains stable, there is a corresponding decrease in the tax rate and taxes will stay the same. I I I- -- I I I I I I I I- I 3