So, there's a lot of misunderstanding about the role of assessors and how they affect
the property tax that homeowners pay.
When someone hears the term assessor, they seem to think of a scary figure reaching for
their wallet.
Not so.
Assessors don't set tax rates.
Assessors don't chase tax dollars.
An assessor is interested in fairly determining property values, and they take great pride
in it.
Property tax is determined by a simple formula.
Assessors only affect one of these variables, the value.
And they do so with incredible accuracy.
Assessors aren't tax collectors, or even tax setters.
They're just fellow taxpayers, and their primary goal is to make everything fair and equitable.
Imagine that you're in a restaurant with two friends.
One orders a hot dog, one orders a plate of caviar, and you order a steak.
The waiter comes to the table with a total bill of $100, but he doesn't know how much
each of you should pay.
If everyone paid the same amount, the guy who ordered the caviar might be happy.
But what about the guy who ordered the hot dog?
Enter assessors.
The food is your property.
Just like these meals, some people's property is worth more than others.
And it's the assessor's job to determine how much each property is worth.
That's it.
So in the same way the value of these menu items would need to be determined, an assessor
places value on properties to ensure fairness and equity.
After the assessor determines the value of each property, local governing bodies will
set their budgets for the coming year.
They set the tax rate in order to produce the dollars needed for their budgets.
The value of a property does not affect the amount of property tax needed.
The sum total of all those budgets is a set number that has to be divided up among all
the property owners.
So even if everyone's value was cut in half by the assessors, the tax rate will be raised
in order to generate the same amount of tax revenue.
The assessors don't determine the taxes you pay, they just determine the values of properties
to keep everything as fair and equitable as possible.
When you notice a change in your property's assessed value, that change is the result
of a never-ending quest for fairness and accuracy.
Assessors are graded on their performance, so there is a detailed system to get accurate
valuations.
First, the assessor looks at similar properties that have sold, their sale prices, and the
terms and conditions of each sale.
That's the reason your home won't just be compared to the place next door.
Studying things like square footage, age, and location helps assessors determine how
comparable another property is to yours.
Even seemingly small details, like an extra bathroom or finished basement, can result
in significant differences in value in two otherwise identical homes.
Assessors maintain a thorough database of real estate information to make this process
as precise as possible.
Changes in value are typically the result of local real estate market sales or major
changes to a property.
Remodel a kitchen or finish your basement, and your property's value could increase.
When you see your home's assessed value, you can rest assured that the number has not been
drawn out of a hat nor generated with anything but equity and accuracy in mind.
Long story short, assessors are here to help, not trying to hinder.
Their focus is accurate values, not tax collection.
The only things an assessor chases are fairness and equity, and they take great pride in it.