State law requires all real property to be reassessed each odd-numbered year. Reassessment does not necessarily mean the value of the property will increase or decrease. Information and data pertaining to real estate values and costs are collected by the Assessor’s Office. Analysis and studies are performed to determine how the real estate market has changed and how it has affected assessed values. The conclusions determined from the data collected are used to determine if any changes are made to real estate values of the current reassessment year.