If I purchased my property recently for more than it is currently being valued by the Assessor's Office, will the valuation on my property automatically be increased by the Assessor's Office to that value?
No. For the same reasoning given above, the sale of one single property is not a reason to increase the valuation of that property or any other similar properties. This process is referred to as "sale chasing" and is not, and has not been, a practice of our office. Any increase (or decrease) in valuation takes place due to multiple sales within the market that indicate a trend in the direction of values for a property and those similar to that property.