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What is a "Valid" or Market Sale?
A “valid” sale is one that can be used to estimate what other buyers would pay for other properties, because both the buyer and seller were typically motivated, well informed and previously unconnected. These are factors that must be true for real give and take negotiations to take place.

Market value is defined as the amount a typical, well-informed purchaser would be willing to pay for a property. The seller and buyer must be unrelated, the seller must be willing, but not under pressure to sell, and the buyer must be willing, but not under any obligation to buy. The property must be on the market for a reasonable length of time, the payment must be in cash or its equivalent, and the financing must be typical for that type of property.

An appraiser must determine if the price paid for a property is a price most typical, well informed and unpressured buyers would have paid for a property before using it to help estimate what other “open-market, arms-length buyers and sellers would agree to.

Frequently Asked Assessor Questions

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1. What does an Assessor do?
2. How does the assessor value property?
3. What if I think my assessment might not be correct?
4. How do I know if my assessment is fair?
5. If after discussing my assessment with the Assessor's office staff I still think the assessment is not correct, what should I do?
6. What is the Board of Review
7. What happens after the Board of Review makes its decision?
8. What is a "Valid" or Market Sale?
9. Do the market values of all properties change at the same rate and over the same time frame?
10. Why do assessors avoid considering foreclosure or estate sales when calculating assessments.
11. What is a Revaluation?
12. Will I be notifieed if there is a change in my assessment?
13. How can my assessment change when I havn't done anything to my property.
14. Can my assessment change in the years between citywide revaluations?
15. What will happen to my assessment if I improve my property?
16. I have recently built a new home. Will cost to build my property be considered when my assessment is calculated?
17. I have a refinance appraisal- Will you change my assessment to the appraiser's value?