For example, a county tax assessor could assign a value to a home based on the purchase price after a real estate transaction takes place. From there, the new homeowner’s property taxes would be based on this assessed value, minus deductions such as the homeowner’s exemption. A tax assessor might also determine the value of physical property such as boats or business equipment. Other types of personal property like cars, for example, might sometimes be taxed at the state level via the vehicle registration process.
How an Assessor Works
An assessor is elected or appointed to the official position of tax assessor, or in some cases, the joint role of tax assessor and collector. When these roles are separate, the tax assessor is responsible for tax assessment and the tax collector is responsible for tax collection, although there also can be some other related duties assigned to these offices. In the role of tax assessor, an official determines the taxable value of property, which can be real property such as houses or buildings, or it could be personal property such as boats or planes. The way in which an assessor values real or personal property can depend on local or state laws.
Example of a Tax Assessor
For example, in California, the assessed value of a home is generally based on the purchase price and can then only increase by up to 2% annually unless the home undergoes a change in ownership or new construction. In other locations, a tax assessment on real estate might look different. In Texas, real estate property taxes are typically based on the market value of a home. That means that even if the current homeowner remains in the home as opposed to a transaction taking place, the assessed value can change based on market conditions. These valuations are made by a county appraisal district, and the county tax assessor-collector is then ultimately responsible for assessing and collecting the taxes.
What an Assessor Means for Individuals
Understanding what an assessor is can help you figure out who’s responsible for determining the taxable value of real or personal property. You can then generally turn to these offices for questions or disputes. For example, if you think there has been an error in the assessed value of your home, you might want to contact the local tax assessor’s office to see if you can get your home reassessed. Otherwise, you might pay more in property taxes than you should. Or you might want to contact your local tax assessor for ways to lower your property tax liability, such as via the homeowner’s exemption. You also might visit your local tax assessor’s website or contact their office if you’re looking for various property information, such as how you can find out the ownership of another home.
