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Valuing Property
Your assessment is determined by experienced assessors who are trained to value all types of real estate. The data they collect includes:
- All eligible sales
- Property improvements via building permits
- New construction
PVSC assessors review sales in your neighborhood and have access to building permits issued by municipalities. You are required to get a building permit to make significant improvements to your property.
Assessors complete on site and other inspections of properties when needed. For example, a physical inspection would be done to verify information if your property is under construction.
Data is maintained which enables staff to analyze sales and identify trends and common units of comparison. Land and buildings are assessed. Statistics are generated to identify market conditions. Staff look at changing costs in construction and renovation to identify how much it would cost to replace your house. Allowances are made for depreciation, and modifications made to reflect market conditions as of a specific date. This process of valuing properties provides consistency between your property assessment, market conditions and those of other properties in similar neighborhoods.
Our data base has information on your property such as lot size, construction detail and features such as fireplaces, basements, garages, number of bedrooms and baths.
We work hard to give you the latest, most accurate valuation possible. Your assessment should reflect a realistic price you would have received for your home had you listed it for sale on the open market on the “base date”.
We would like to hear from you if you feel your property assessment is not a reasonable estimate of market value as of the date of the assessment.
Please look in the Contact Us information to find your closest PVSC office or call 1-800-380-7775.
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