Role of the Assessor

Function

The Assessor maintains the municipality’s assessment roll. This is accomplished by annually updating and valuing the physical components (inventory) of real estate located in a municipality and listing all property values on the assessment roll.

Procedure

Initially the Assessor is informed of a change in property value by observation and through a building (or demolition) permit issued from the Building Inspector’s Office. The permit identifies the property by name and through a tax identification or grid number and it describes the change that will take place.

Process

The Assessor examines the plans or other information relating to the proposed change. The property is then physically inspected possibly during construction and when the construction is complete.

Analysis

The Assessing Office uses three forms of analysis in the valuation of property. On residential property the Cost Analysis and the Market Approach are the two most common forms of valuation used. With commercial or industrial property the Income Analysis is also used.

Assessment

When establishing an assessment for the tax roll, market value is the primary consideration. This is the basis for assessment value, which takes into account an inter-comparison between the assessment of similar properties within the municipality.

The Assessor’s Office is available for information regarding assessments. Taxpayers may examine the information maintained by the assessing office on their own property and review the assessments of other property owners.

The assessor is available for consultation and explanation of the assessment process. There are reporting deadlines that limit the assessor’s ability to change an assessment. The valuation of a property for tax purposes relates to January first of each roll year, but the value is based on what improvement exits as of March first each year. March First is known as Taxable Status Day. From the status of inventory that exists as of March 1st, the Assessor prepares the Tentative Roll. The Assessor can make changes on property assessments until the Tentative Roll is published. After that date the Board of Assessment Review must make the roll changes.