WHY DOES APPRAISED VALUE CHANGE FROM YEAR TO YEAR?
When the market value changes, naturally so does appraised (just) value. For instance, if you were to increase the total market value of your property by building a swimming pool in your backyard, the appraised value will increase proportionately. Similarly, should your propertys value be decreased by fire or storm damage, the appraised value will decrease to reflect the downward effect on your propertys market value. In addition, the entire communitys economy, as well as the forces of supply and demand, will affect your propertys appraised value. The Property Appraiser does not create this value: he simply discovers it as it exists and values the property accordingly. Buyers and sellers set value by their transactions in the market place.
