Property tax assessments

Property tax assessments are evaluations conducted by local government authorities to determine the market value of real estate, such as homes and commercial properties. This assessed value is then used to calculate the property taxes that homeowners and businesses must pay. Factors influencing the assessment include property size, location, age, and any improvements made. Assessments are typically reviewed periodically to reflect changes in the property market. Property owners can often appeal their assessment if they believe it inaccurately reflects their property's value, potentially leading to lower tax bills if successful.