How are market values determined?

Various tools are used to extract data from the market. Examples include: 

  • Cost books
  • Multiple listing service
  • Ratio studies
  • Revenue stamps
  • Sales files
  • Sales questionnaires

The best source for establishing residential market values is arms-length sales of reasonably comparable properties. Such properties are similar in location, age, style, condition and other features that may have an effect on market value.

Show All Answers

1. How will the pandemic affect the tax value of my home for 2021?
2. How will my 2021 tax bill be affected by the Revaluation, and specifically during the pandemic?
3. What is a Revaluation?
4. Why have a revaluation?
5. Will all property values change during a revaluation?
6. Why appraise at market value?
7. When does the revaluation take effect?
8. Who will do the work of reviewing properties for the revaluation?
9. When can I find out my new tax assessment?
10. Will my taxes change as a result of revaluation?
11. How are market values determined?
12. What if I disagree with my new tax assessment?