I did my own construction work to save money, but my assessment went up as much as if Id hired a union crew. Shouldn my assessment reflect the actual cost of the work?
Assessments are based on fair market value. Whether you did the work yourself or hired a contractor, the value is in the end product. Any additional improvements to an existing structure adds what is known as contributory value. This value is not based on cost, but rather the added value it “contributes” to the overall worth of the property.
