Why is the assessed value on the Property Assessment Notice not more up-to-date?
The fact that the assessed value is based on a June 30, 1999 valuation date is not as important as the fact that the assessed values for all properties are based on the same date. Calculating the assessed values of similar properties at the same point in time allows the tax burden to be equitably shared among them. The assessed values will be more up-to-date by 2004, when they will be calculated annually as of June 30th of the previous year.
