What other services are available?
We are a full service property tax consulting firm. We will help businesses prepare and file personal property renditions. We will also review tax bills and other related services. If you are interested in additional property tax consulting services, please call us.
What is "Fair Market Value"?
"Fair Market Value" is the price for property that would be agreed upon between a willing and informed buyer and a willing and informed seller under usual and ordinary circumstances; it is the highest price a property would bring if it were exposed for sale on the open market for a reasonable period of time.
As you can see from the definition above, "fair market value" is a theoretical concept. Many sales occur at prices other than the "fair market value." Often the sale price is adjusted because of time pressures on the buyer or seller. Other factors that affect sale prices include owner-held mortgages and property transfers within families.
Is the purpose of a revaluation to increase taxes?
No. The purpose of an assessment revaluation is to make all of the parcels in an assessing unit fair and equitable in relation to each other, based on current market trends. In a declining market, revaluation could actually lower the assessments.
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