how often does assessed value change 
that depends on the state or jurisdiction where the property is located some areas update assessments annually others may do so every few years check with the tax department of your town for details the bottom lineassessed value refers to the value assigned to a property such as a home by the local government it is used by the tax authority to determine the property taxes that a homeowner owes often it s calculated as a percentage of the fair market value of the property 