You go to your mailbox and find the City Assessment Notice, eagerly rip open the envelope and quickly scan to see your property value. WHAT?! This can’t be true! How can my property increase by that much in ONE YEAR!
This has been a common theme of late and if you own a condo, the exact opposite can be said. How can my property decrease by that much in one year! Well have no fear, the City Assessed Value doesn’t mean what you think it does! In fact, I’ve seen property tax assessments off as much as 30% in either direction!