The 2022 Assessment goes into effect Fiscal Year 2023 (FY2023) which begins July 1, 2022. What is the effective date of the assessment? Reassessments of all parcels in JCC are done every two years. Single property appraisals are not financially or logistically feasible for tax assessment purposes. Adjustments are made to the sales based on differences with your property and an indicated market value as of that date is given. In addition, the sales generally should have all occurred within a time frame of three to six months. The sales selected are generally similar and should be within reasonable distance to the subject property. When a fee appraiser values your property for financing or other purposes, you typically receive a single property appraisal consisting of three or more sales that estimate the value. The mass appraisal technique is used for tax assessment purposes and is necessary to accomplish mass valuation of the thousands of parcels within a locality. Groups of sales are used to provide value indications for large populations of properties. Mass appraisal is defined as “the systematic appraisal of groups of properties as of a given date using standardized procedures and statistical testing.” It involves analyzing data collected in mass quantities, developing statistics from the data, and applying the results to large numbers of properties. What is the difference between mass appraisal and a single property appraisal? The distribution from the assessment is proportionally based on the market value of individual properties.

Real estate assessments are how localities fairly distribute the tax burden among all property owners. Necessary county services, such as schools, police, and fire protection, are supported by tax revenue from the County.

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