What must be true for an assessor to value damaged property as it stands on January 1?

For an assessor to value damaged property as it stands on January 1, it is essential that the property has been notified to the assessor before January 10. This requirement is in place to ensure that assessors have timely and accurate information regarding the condition of properties when establishing their assessments for the tax year. The notification allows the assessor to consider all relevant details about the property's current state, including any damage, resulting in a fair and equitable assessment.

Timely notification is critical because it helps the assessor apply the correct valuation methods and criteria used to determine the property's value while taking into account any damages that may have affected its market value as of January 1. Without such notification, assessors might miss crucial information necessary for making accurate assessments, potentially leading to unfair valuations that do not reflect the property's true condition.