How does the Assessor value property?

State law requires the Assessor to value all taxable property at 100% of its true and fair market value in money, according to the highest and best use of the property. Fair market value or true value is the amount that a willing and unobligated buyer is willing to pay to a willing and unobligated seller. The Assessor values real property using one or more acceptable appraisal methods: the market or sales comparison method, the cost approach, an income capitalization approach for income-producing property, or any combination of the three approaches.

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1. What and who is the Board of Equalization (BOE)?
2. How does the Assessor value property?
3. How can citizens appeal the assessed value of their property to the Franklin County Board of Equalization?
4. Who may file an appeal?
5. When do I receive a 'Change of Value Notice' or 'Value Notice'?
6. What is the deadline for filing an appeal?
7. Should property owners contact the Assessor's Office?
8. Am I encouraged to exchange valuation information and supporting evidence at a reasonable time prior to hearing?
9. How is the resolve processed?
10. What information must be provided for a completed petition?
11. What is acceptable evidence?
12. How do I find comparable sales?
13. What if there are no properties comparable to mine?
14. When will I have a hearing?
15. What can I expect at the hearing?
16. Can the BOE increase my assessed value?
17. When will I receive a decision?
18. What if I am not satisfied with the Board of Equalization's decision?
19. Should I wait until after my hearing to pay my property taxes?