This is often due to two things:
- Rising or falling sales prices of comparable homes
We reassess the value of your home every year. We compare your home to homes that were sold in the past year. Did comparable homes in your neighborhood sell for more? Or less? If so, your WOZ value may go up or down. We do not look at last year’s WOZ value, nor do we consider national or average price increases or decreases. - Changes to your home
Changes to your home can affect the WOZ value. Have you remodeled, added an extension, or renovated? If so, this may result in a higher WOZ value. The same applies if you have purchased additional land.