What is an assessor?
An assessor is a government official who decides the value of a property for
local real estate taxation purposes. The numbers assessors derive are applied to estimate future property taxes. The assessor determines the price of real property within a city or town’s borders. This value is transformed into an assessment, which is one component in the computation of real property tax bills.
Assessors are trained to calculate the average market value of a property. Average market value refers to the price that would be agreed upon between a prepared and informed buyer and an approved and knowledgeable seller under natural and ordinary circumstances. It is the highest price an investment would bring if it were for sale on the open market for a reasonable period. Many events occur at rates other than what is examined the fair market value. The sale price is frequently adjusted due to the time constraints and demands on the two parties.
The conditions required to become an assessor in the U.S varies from state to state. In New York State, for example, the aspiring assessor has to book an appointment or election. Then this person has to get a required certification within three years when taking office, although assessors in some states are not obliged to obtain certification. The accreditation requires achievement of orientation, which consists of three assessment administration course segments
and five appraisal segments, including farm evaluation for certain agricultural societies.