How many types of adjustments are typically made in the lump sum dollar adjustment process?

In the lump sum dollar adjustment process, two types of adjustments are typically made: positive adjustments and negative adjustments.

Positive adjustments are increases made to the assessed value, usually for improvements or additional features added to a property that enhance its value. Negative adjustments, on the other hand, decrease the assessed value, often due to factors such as depreciation or damages that affect the property’s overall worth.

This dual approach allows assessors to comprehensively adjust property values based on various factors influencing the market and the condition of the property. Understanding these two types of adjustments is crucial for a tax assessor, as they ensure accurate assessments and fair taxation, reflecting the true value of properties in the jurisdiction.