Frequently Asked Questions Isn't it illegal for the Assessor to increase my value so much in one year.
Property values change continuously with the changing economic conditions.
The market dictates property values. If sale prices are increasing the Assessor's market value will increase and if sales prices fall, like they did during the late 1970's and early 1980's, then the Assessor's market values will drop. Assessor's market values always follow the market. Each property is viewed to gather information on all characteristics that affect its market value. Homesteading residents are eligible for property tax classification tax breaks, refunds and rebates.