What Causes Your Taxes To Change?
They change when either your tax rate changes or your assessed value changes. Your assessed value can change because of a boundary change, new construction, a change in use, reappraisal or factoring.
- Boundary changes occur when old parcels are either subdivided or combined.
- New construction includes new buildings, additions, remodeling, etc.
- Changes in use are, for example, a change from residential use to office or retail use.
- Reappraisal or factoring is done to keep values up to date with changes in individual properties, local and neighborhood trends, and inflation or recession.