What type of issues would potentially increase the assessed tax value of a property?

Major renovations and improvements made to a property significantly enhance its value, which in turn influences its assessed tax value. When a property undergoes substantial upgrades—such as kitchen and bathroom remodels, additional living spaces, or enhancements to curb appeal—these changes not only improve the property’s functionality and aesthetic appeal but also align it more closely with market trends. Assessors take such improvements into account when determining the property’s assessed value for taxation purposes.

In contrast, issues like a decline in neighborhood quality, excessive deferred maintenance, or unsold inventory typically lead to a depreciation of property value rather than an increase. When overall neighborhood conditions worsen, or when a property is visibly neglected due to lack of maintenance, it signals to assessors that the property and surrounding area may hold less value. Similarly, a surplus of unsold inventory reflects a saturated market where properties struggle to find buyers, further exerting downward pressure on values. These factors do not contribute to an increase in assessed tax values, highlighting why the improvements made to the property are fundamental for enhanced valuations.