Revaluation determines only one of two components of your tax bill, the assessed value. The other component, the tax rate, is set by an elected body such as the County Commissioners, the City Councils, or Town Boards. There is no way to determine at this time what the tax rate(s) will be. The tax rate(s) may vary each year, but if there are no changes to your property, the assessed value will remain the same until the next revaluation.

The best way to estimate what your new value will be to consider what your property would sell for on the open market. We do not value property by using percentages. We use the 3 accepted appraisal techniques (sales comparison, cost, and income approach). We value property by neighborhoods using actual sales from those neighborhoods when possible. In other words, people who buy and sell real estate establish market values.

You should file an appeal if you feel the assessed value exceeds the market value of your property. You should include a recent appraisal or other documents relating to the condition or value of your property and similar properties.

You should not file an appeal if you think the assessed value is about what you could sell your property for. Also, your ability to pay your tax bill is not a valid reason for an appeal.