What might trigger a property assessment increase due to construction activities?

Completion of property renovations can trigger a property assessment increase because such activities often enhance the overall value of the property. Renovations, whether they involve updating the kitchen, expanding living spaces, or improving curb appeal, typically result in a more desirable property and can significantly increase its market value. Assessors are likely to recognize these improvements during their evaluations, reflecting the added worth in the new assessment.

While market conditions, new property regulations, and increased property demand can influence overall property values and assessments broadly, they don’t directly address the specific enhancements made to an individual property through renovations. In contrast, completing renovations is a tangible change that directly affects the property itself and is thus a more concrete trigger for an increase in property assessment.