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Appraised value by county assessor?
Yesterday I received my property value statements. The value is made of 2 components, Land and Building. Every property I own, the land (or lot) was worth about $2000 in 2018. On this years statement, every lot is now worth $6000 and the value of the property went down between $3000 and $5000. The overall value of the total property basically stayed within $1000 of where it was last year.
I also looked at all the adjacent properties to mine. Same results. Land went from $2000 to $6000 and the building went down about $4000. These are for houses averaging $20k to $35 in total value.
Question: Why did the county appraiser triple the value of the land and lower the value of the property for basically every residential property in this town?