APPRAISAL/DISCOVERY
It is the duty of the appraisers to determine the current market value of each property in the County as of January 1st of each year. The current market value is the amount a willing purchaser would pay a willing seller in cash or the equivalent thereof in an arm's length transaction: State law requires that every parcel in the County be physically inspected every five (5) years and adjusted to market value every year.
Value is determined in accordance with accepted appraisal standards and techniques. There are three approaches to value which are considered and used as appropriate. These approaches to value are based on : Sales in the market place, Income generated or that could be generated by a property and what would be the Cost to replace or construct a similar property.
Discovery of taxable property is also one of the functions of the Assessor's office. This discovery is completed in a number of ways:
- As land is segregated we identify new parcels through a mapping system provided by the Recorder's office.
- On-site inspection, measuring, and gathering data is completed for each building permit provided us by the Building department.
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