Use the taxing district to calculate property tax. Running this routine will update the market value, taxable amount, and greenbelt value on land records.

Calculate real property value changes to identify and review differences in property values between assessment periods. This process helps verify that value adjustments have been applied correctly, supports assessment reviews, and provides insight into how changes in property values may affect taxable values and tax revenue. Reviewing value changes also helps ensure assessment data is accurate before notices are generated or taxes are calculated.

Examples:

• Compare current assessed values to prior-year values to identify significant increases or decreases.
• Review value changes resulting from new construction, property improvements, or demolition.
• Verify assessment adjustments made after appeals or corrections.
• Identify properties with unusual value changes that may require further review.
• Confirm valuation changes before generating valuation notices or calculating property taxes.

By calculating real property value changes, you can validate assessment data, identify potential issues, and ensure property values are accurate before proceeding with tax billing and reporting.

Reviewing real property value changes

Print a report of the real property value changes that will be calculated using the current settings. Using Report Only will print a report without updating the new values to the real property record.

Do this...

1. Open Connect Property Tax Collection > Real Properties > Calculate Real Property Value Changes.

2. Use the Print box to select Report Only.

3. Select the Land Types to calculate real property value changes.

4. Set up the selection criteria (optional).

5. Click GO (CTRL+G).

The Calculate Real Property Value Changes report prints the current value and the new value for market value and greenbelt value.

Check if the new values on the report are correct?

• Yes, the new values are correct. Continue to .

• No, the new values are not correct. Review the real property details and land record properties carefully. Make sure the correct taxing district is assigned to the real property. When you're done, reprint the Calculate Real Property Value Changes report to verify your changes.

Updating real property value changes to real property records

1. Open Connect Property Tax Collection > Real Properties > Calculate Real Property Value Changes.

2. Use the Print box to select Report or No Report.

Choosing Report will print a report and update new values to the real property record. Choosing No Report will update new values to the real property record without printing a report.

3. Select the Land Types.

4. Set up the selection criteria (optional).

5. Click GO (CTRL+G).

The new values for market value and greenbelt value are updated to the real property record.