Kevin Greenlief directs the office that is responsible for administering real estate, personal property and business license taxes. Tax appraisers are boosting home assessment values this year by 11 percent on average, and some are going up as much as 30 percent. Tax bills are accordingly poised to leap upward. The transcript follows. Thanks for taking the time to join us today, Kevin Greenlief.
Assessments reflect the value of the 'market' for a given property.
Also, the housing market is going to cool very quickly over the next two years. Answering your second question first, there is always a chance that an appraiser might in fact increase your assessment, though this is probably atypical. This is more apt to happen if we have inaccurate information as to the physical characteristics of your existing home. If your home represents a recent purchase, our data is most probably quite accurate. As to the first question, if the condition of your home is somewhat below the norm for the market for a home of your type and age, this will probably be reflected in your purchase price.