When a new home is still under construction, the County Assessor may?

When a new home is still under construction, the County Assessor may increase the full cash value. This is because, during construction, the property is considered a work in progress. As more construction is completed, the value of the property potentially increases, reflecting the improvements and investments made by the homeowner. The full cash value is the estimated market value of the property, and it can be adjusted as construction advances to better represent its worth at any given time.

As the project nears completion, the full cash value will likely be assessed higher as the improvements and additional square footage or features add to the overall market appeal and functionality of the property. This process helps ensure that property tax assessments align with the market values based on the current state of completion.