How Assessments Are Determined


Agricultural property


Agricultural real property is assessed at 100% of productivity and net earning capacity value. The Assessor considers a properties soil type to determine the productivity and net earning capacity of the property. Agricultural income as reflected by production, prices, expenses, and various local conditions is taken into account.

Residential, multi-residential, commercial and industrial real property

Residential, multi-residential, commercial and industrial real property are assessed at 100% market value. Market value of a property is an estimate of the price that it would sell for on the open market on the first day of January of the year of assessment. This is often referred to as the "arms length transaction" or "willing buyer/willing seller" concept. The Assessor must determine the fair market value of real property. To do this the Assessor generally uses three approaches to value:

Market Approach

Cost Approach

Income Approach