Wendorff Assessing

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If my property assessment increases due to a municipal wide revaluation, will my taxes increase?

Maybe, but they will probably be close to the previous year.  After a revaluation, almost all assessments increase dramatically.  This is because property values increase each year, but assessed values are not adjusted for this increase each year.  At the time of a revaluation, value is added for several years of market increase all in one year.  After a revaluation, the tax rate will decrease to compensate for the increased assessed values.  If the taxing jurisdictions levy the same taxes, most individual tax bills will stay about the same.  Some taxes will increase and some will decrease. This depends on your actual assessment.  If a property has increased in value more than most others in the municipality, the tax will increase.  If a property has increased in value less than most others in the municipality, the tax will decrease.

If you own a deed or survey of your premises, that will be beneficial to the Assessor’s office personnel. It is very important to keep in mind that the assessor doesn’t create the value. If you’ve detailed questions about your premises, you must get in touch with your municipality’s Tax Assessor’s Office.