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Message: <blockquote data-quote="Retired Educator" data-source="post: 205130" data-attributes="member: 3373">Here's what I know about assessed value. According to the state laws, property is supposed to be assessed between 95% and 105% of true and full value. In most cases it is assessed a little below that. Most importantly the property needs to be assessed equitably. My 2000 sq. ft. house on a 100X150 lot should be assessed very close to a neighbor with a similar size lot and house. Walking in the house to check out the inside should have nothing to do with the assessment. ND has a property tax, not a personal property tax, there is a difference. My custom made walnut cabinets with granite counter-tops are should increase the ease of selling the house, but not the assessed value.What you pay for your house is not necessarily the assessed value. What other similar houses in the area are selling for should have a lot to do with the assessed value. If you think your assessed value is unfair, check out the assessed value of similar property. The info is available in the courthouse and is public information. That will give you some ammunition for your argument. Find other property and if the assessed value of those properties is close to yours you don't have much of an argument. If those properties have a lower assessed value, there is your case for a new assessment. You'll either have your assessed value lowered or you'll piss your neighbors off for increasing their valuation. If your assessed value is lower than your neighbors, keep it quiet, you're getting a good deal.I don't have an argument with property taxes as there has to be a way to pay for the services to which we've become accustomed. The key is to make sure everyone is treated equitably and the way to start that is with fair and equitable valuations.</blockquote>

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