Rule of Thumb When Aftting Assessed Value
A general rule of thumb when it comes to assessing value is that if you have one home improvement worth $5,000, you can expect to see your taxes go up about 10% or $500. This doesn’t mean you’ll see a $500 drop in your taxes, though. It’s just a rough estimate. The best way to estimate how much your taxes will go up after a certain upgrade is to search for that item on your county’s website. This will allow you to see how much your tax assessment will increase as a result of the upgrade. For example, if you add a swimming pool to your backyard and search for it, you’ll see that your tax bill will go up somewhere between $1,000 and $1,500.
