Annual Adjustment

Annual Adjustment / Trending

  • Property values are adjusted or trended (the adjustment can be positive or negative) on an annual basis to bring them closer to market value-in-use.  The assessing official uses sales of properties in a neighborhood, area or class of property from the previous 12-14 months to determine the adjustment factor.

  • Trending occurs every year.

  • The assessment date and the valuation date are both January 1 of a given year.

  • Real property is valued taking into account its physical characteristics and condition and the market in existence on the assessment date.  This value is trended to reflect the property's market value-in-use on that date.

  • "What would a potential buyer have paid on the assessment/valuation date for the property as it physically looked given the market conditions that existed on the date?"

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