Why and how often do assessments increase/change?

Assessments can change every year. Assessments are based on the fair market value of the property. If the market is increasing or decreasing the assessments follow the market pattern and will increase or decrease accordingly. If the market is stable, assessments will remain stable as well. The objective of the revaluation program is to ensure that everyone's assessment is fair and accurate. If all property is assessed at its market value, individual taxpayers will be assured that they pay only their fair share of the tax burden.