![]() ![]() That is why property appraisers maintain an accurate data base of real estate information, and this is the sale comparison approach to value. Once this is determined, the property appraiser can base the value of a property on sales of comparable properties. An arm's length transaction also means that the property was on the market for neither an excessive nor short period of time. Each transaction must be studied to make sure that it is an arms-length transaction.Īn arm's length transaction is a sale involving a willing seller and a willing buyer without any undue pressure or special incentives (such as family relationships). To estimate the value of a property, the property appraiser must identify the properties that have sold, their sale prices and the terms and conditions of the each sale. Sales of similar properties are strong indicators of value in the real estate market. However, individual property values may be adjusted between visits in light of sales activity or other factors affecting real estate values in your neighborhood. ![]() Finally, the tax collector takes the amount of taxes due in order to bill and collect all taxes levied within the county.Īt least once every three years, the property appraiser or a staff appraiser will visit and inspect each property. Next, each taxing authority within the county sets their own millage rate based on the amount of tax dollars necessary to fund their annual budget. First, the property appraiser annually appraises all property in your county at the market value as of January 1. Three separate government entities each having unique and distinct roles in producing your November tax bill. The property appraiser has nothing to do with the amount of taxes levied or collected. The property appraiser assesses all property in the county and is neither a taxing authority nor a tax collector. and most importantly, analyzes trends in sales prices, construction costs, and rents to best estimate the value of all assessable property.accepts and approves applications from individuals eligible for exemptions and other forms of property tax relief.keeps descriptions of buildings and property characteristics up to date.The property appraiser has the legal responsibility to study those transactions and appraise your property accordingly. People establish the value by buying and selling real estate in the market place. What is important to remember is that the property appraiser does not create the value. Estimating the "market" value of your property means discovering the price most people would pay for your property in its current condition. The "market" value of real property is based on the current real estate market. The property appraiser is responsible for identifying, locating, and fairly valuing all property, both real and personal, within the county for tax purposes. What if I think the appraised value of my property is too high? When will I know the amount of my tax bill? This office is here to serve you and all residents of Washington County to ensure fair and equitable appraisal of property.ĭoes the property appraiser levy or collect taxes?īesides Homestead, what other exemptions are available under law? The Property Appraiser welcomes your inquiries. ![]() There are many individual circumstances which can impact upon the appraisal and filing process. These are examples of questions frequently asked. ![]()
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