Assessment - how does it work?

Assessment (market value) of your home determines taxes payable. Your taxes payable is dependent on how your home compares to the 'average' home in Bruderheim (e.g., $300,000). If your house value is higher than the average, you pay more tax.  If the value is less than the average, you pay less tax.

One misconception about taxes is the belief that when a home's market value goes down, taxes will go down. They do not for 2 reasons:

1. The revenue required to provide the mandated services does not decrease.
2. The "average" home price has decreased also, making the change relative for all residents.

The 'comparison to average' calculation method ensures that taxes stay consistent and reasonable each year and maintains fairness among taxpayers.

 

There are two dates used by the assessor throughout the assessment process:

1. Valuation date - the 1st of July of the previous year (for example, for taxation in 2021, the valuation date is July 1st, 2020).
2. Condition date - the 31st of December of the previous year (for example, for taxation in 2021, the physical characteristics of the property are recorded as of December 31st, 2020).