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Q:  How is real property value determined?

A:  The county assessor must determine the fair market value of property using one or more of three generally accepted appraisal methods: The Market approach, Cost Approach, or Income Approach. Further detailed explanations on these methods can be found in our publication, A Homeowner's Guide to Property Taxes. The frequency of changes in value to your property depend on your county's revaluation cycle (see page 6 of our publication, Comparison of County Assessor's Statistics report).
More information
A Homeowner's Guide to Property Tax (pdf)
Comparison of County Assessor's Statistics
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