Added Assessments

An improvement to your home will increase its selling price and your property tax assessment will increase. This will take the form of an added assessment tax bill, which you will receive in the mail at the end of October after the improvement is substantially completed for its intended use. This bill shall be payable on November 1  and then the added assessment amount will be included in your annual tax bill received for the new tax year. Therefore, just as you planned ahead for the improvement, you should also plan ahead and set aside funds for the added assessment tax bill.

The added assessment is the amount of the difference between the property assessment before the improvement and the value of the entire property after the improvement. It does not reflect the cost of the amenity itself or the cost of the project..