About Property Assessment Have you ever wondered how your property taxes are calculated? When you are paying your property taxes you might have noticed that the tax amount is different every year. Your property taxes are calculated on the basis of your property assessment. In this post, we will understand what assessment means and how it is used to calculate property taxes. What is an Assessment in Real Estate? A property assessment is an evaluation of property done through a certified assessor to derive the estimated value of a real estate to calculate taxes that are needed to be paid by the owner of the property. In most the counties the real estate assessment is done every year so that the taxes could be collected on the property and submitted to the local government bodies. The assessment is done by an elected assessor who will visit the property for assessment of the real estate property. The assessor will then evaluate the physical structure of the property, any...
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