Added Assessments

Added Assessments for Property Improvements

When Improvements Affect Your Assessment

Home improvements that increase your property’s market value will also increase your property tax assessment. When this occurs, you will receive an Added Assessment Tax Bill.

This bill is issued at the end of October, after the improvement is substantially complete and ready for use. The added assessment payment is due November 1. The new assessment amount will then be incorporated into your regular annual tax bill for the following tax year.

Because improvements can raise your assessment, it’s wise to plan ahead and set aside funds for the added assessment tax bill.

How Added Assessments Are Calculated

An added assessment reflects the difference between:

• The property’s assessed value before the improvement, and
• The property’s assessed value after the improvement

It is not based on the cost of the project or the price of the amenity itself.