Estimated Market Value

The estimated market value should be the most probable sale price of a property in terms of money in a competitive and open market. The estimate is based on key assumptions: that a buyer and seller act prudently and knowledgeably, allow sufficient time for the sale, and are not affected by undue pressures. The Assessor’s Office works throughout the year to establish market values of each property as of January 2 of each year for taxes payable the following year.