State law requires the Assessor’s Office to reappraise property value upon a change in ownership or completion of new construction. The Assessor’s Office must issue a supplemental assessment that reflects the difference between the new base year value and the previous base year value.
The difference in values is multiplied by the tax rate applicable, and prorated by the number of months remaining in the fiscal year, ending June 30. Supplemental tax bills are mailed throughout the year.