Does the Estimated Market Value Change at the Same Rate on all Properties?
No, it does not. There are differences between individual properties and between neighborhoods. In one area the sales may indicate a large increase in value in a given year. In another neighborhood there may be very little or no change in value. Properties within the same neighborhood may show different value changes. There are numerous factors to be considered in each property, which will cause value changes to differ. Some of the factors that can affect value are location, condition, size, quality, number of baths, basement finish, garages, and many others. Property information may have been corrected resulting in an increase or decrease in value different than neighboring properties.
