The assessor uses the three nationally recognized appraisal approaches to value, those being cost , income , and market. This data is then correlated into a final value estimate by the appraiser. When additional taxes are voted by the people, an individual's property tax bill will increase. Also, when market value increases, naturally, so does the assessed value. The assessor has not created the value.
People make value by their transactions in the marketplace.
The assessor simply has the legal and moral responsibility to study those transactions and appraise your property. January 1 Property is assessed as to condition and ownership as of this date February 28 Last day to pay the preceding year's taxes.