Glossary

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Assessment
An assessment is done to determine the value of your home for tax purposes. Assessments are typically done once a year either at the beginning or the end of the year. Residents can dispute the assessment or have an independent assessment done at any time. When assessed, the value of your home could go up as well as down. Most homeowners will have an independent assessment done with the hopes that the value of their home will be lower. Lower home values result in lower property taxes. Special assessments are levied on those who live in a community that has a homeowners association. This is typically done to raise extra funds for the association. Anyone who has this fee levied upon them may have the right to dispute or appeal it.