Market value is determined by buyers and sellers, the real estate market and the general economy. Our current assessments were arrived at in 2013 and the market has appreciated since then. The 2017 assessments were found to be at about 79.1% of market value. For April 1, 2018 we are required to bring assessments back to 100% of market value. This will mean for most residential properties they will see their assessment increase. However, not all property appreciates or depreciates at the same rate. KRT will research and analyze the values in any particular area or neighborhood to determine the 2018 market values. In effect we are placing a value on your property that we believe is representative of what you would sell your home for on April 1, 2018.