How do I add real property value history?
Add Value History to a real property record to maintain a historical record of changes in the property's assessed, market, or taxable values over time. Value history helps users track how a property's value has changed from year to year, supports assessment reviews, and provides documentation for audits, appeals, and property research. Maintaining this history also helps explain changes in tax amounts and supports accurate valuation analysis.
Examples:
- Review annual assessment changes to understand trends in property value.
- Document value adjustments resulting from an appeal, correction, or reassessment.
- Track value increases caused by new construction or property improvements.
- Compare current values to prior years when researching assessment history.
- Provide supporting documentation during audits, taxpayer inquiries, or valuation disputes.
By maintaining value history, you help preserve a complete record of property valuations, support assessment transparency, and ensure accurate historical reporting.
Adding real property history
1. Open Connect Property Tax Collection > Real Properties > Setup New Real Properties or Modify Existing Real Properties.
2. Click to select the Property Value History tab.
3. Click Add a New Property Value.
4. Use the Add New Property Value window to enter the following information, and then click OK.
Period
Select the period when the real property value was assessed.
Date
Enter the date (MM/DD/YYYY) when the real property value was assessed.
Land record
Select the land record that was assessed. To learn more, see How do I add land records to a real property?
Taxing entity
Select the taxing entity that assessed the property value. To add a taxing entity, see How do I add a taxing entity?
5. Next, add the additional information.
Description
Enter a transaction description for the property value entry.
Land market value
The value of the land on the open market, also known as fair market value.
Greenbelt value
The greenbelt refers to agriculture, forest, and open space that is equal to or greater than fifteen acres and has an average annual agricultural income of $1,500 over three years.
Building market value
Enter the market value of the building. The market value is the amount for which the building can be sold in the current market.
Exemption amount
Enter the amount that is exempt from tax.
Taxable value
This is the portion or percentage of land and building subject to tax. This value is read only.
7. Click Save (CTRL+S).
The real property value is saved.
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