However, if I had the money I could easily find uses for $30k in improvements (Debating between aesthetic and functional improvements).

New construction seems to be assigned a higher tax value than improvements or say an addition to living space.

I understand there would be interest, fees and improvements to be reimbursed, but the purchase price my partner paid would not be reimbursed?

I then rented it out to a couple young professionals who have actually improved the property since they've lived there (Best tenants ever!).

I then rented it out to a couple young professionals who have actually improved the property since they've lived there (Best tenants ever!).

I hope they improve but I am considering other options if they don't.Another note; they are always very friendly on the phone. 

@Asury Johnson - good questions...I’m walking through the house tomorrow to assess condition - last summer I saw him paint the exterior, install a new roof and AC, and made some interior improvements, too.

(Mostly car loans, 3 year terms left, and a 4 year home improvement loan).

They prefer valuation focused on the lot income, and any hard improvements, amenities, etc.  

They do what may be more efficient for them but not necessarily the owner (I.e. replace versus troubleshoot and repair) or do what makes them more money (extra turnover work that isn't necessary).