Thanks VanMorisonFan. Your explanation is how I expected the process to happen.
In surfing properties, I’ve noticed many cases of the assessment lag you’re talking about. It looks like the Tax Assessor/Collector is leaving money on the table, in which case we are all subsidizing developers.
But builders will tell you that they pay enough in development fees already — which they pass along to homebuyers.
I’m also sure that there are many cases where the Assessor “forgets” to properly reassess new contruction (e.g. Duncan Hunter’s house).
