Property Assessment:
Property assessments are the process by which a dollar value is placed on a property for taxation purposes. Given that assessments are market based, your assessed value may fluctuate from one year to the next.
The Town of Fairview's property assessments will be conducted by our contracted assessment service provider KCL Consulting Inc.
Market Value Assessment:
A market value based assessment does NOT necessarily identify a property’s sale price or potential sale price. Rather, it reflects an ESTIMATE of the value based on several factors including similar properties which have sold.
Further, your current assessment notice does not reflect today’s market trends, It is based upon market conditions in 2009. Any changes (increases or decreases) in property values since then will NOT be reflected on the current assessment. See ‘valuation date’ below.
Assessors use a technique known as ‘mass appraisal’. ‘Mass appraisal’ is the process of valuing a larger group of properties, as of a given date, using standard methods and statistical testing. The focus in property assessment is not on the individual property, rather the entire class or group of properties.
Valuation and condition dates
Legislation requires the assessment process to comply with two key dates: the “valuation date” and “condition date”.
Valuation date
The valuation date ensures all properties are valued as of the same date. The valuation date for the 2010 tax year is July 1, 2009. This means the assessment value on the 2010 Assessment and Tax Notice is an estimate of value as of July 1, 2009.
Condition date
The condition date is the “as-of-date” used to identify the physical state of a property for assessment purposes. The condition date for the 2010 tax year is December 31, 2009. This means the assessment on the 2010 Assessment and Tax Notice is as of July 1, 2009 and represents the physical condition of the property as of December 31, 2009.
Appealing your assessment
You cannot appeal your property taxes, nor can you request a review of your property taxes. If you feel an error has been made, you can appeal the property assessment value (there may be an appeal fee involved). You must explain why you think your assessment is incorrect and you must be prepared to provide supporting documentation and evidence to support your claim. In other words it is insufficient to simply state “my assessment is too high”.
Contact
If you have questions or concerns about the assessment process or the value that the assessor has placed on your property, you can contact your municipality who will in turn relay the message to the assessor.
If you have questions or concerns about the assessment process or the value that the assessor has placed on your property, you can contact your municipality who will in turn relay the message to the assessor.
(From KCL Consulting Inc. 2009)
Taxes
See the 2010 Tax Guide for information on how taxes are calculated
The Mill Rate for property taxes is generally approved in April of the tax year.