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definition for: #spotchecksnd

January 11, 2019
1 Definition for Hashtag #spotchecksnd
Spot checks are appraisal reviews of real property tax assessments by an independent third-party certified appraisers to verify that the assessment is listed at market value and not over assessed or under assessed. The purpose of spot checks I ensure that all real property assessments are listed on the tax rolls at their fair market values so everyone pays their fair share of the tax burden. Spot checks keep the assessor honest in his assessments because the assessor knows someone else will be checking them for accuracy. North Dakota for example has a Spot Check law NDCC 57-12-01.1 The issue has been that some Cities and Counties have ignored the law and not done them because they raised tax assessments during boom times and didn't want to lower them in bad time or bust markets such as oil boom/bust or tech boom/bust. This is not just a North Dakota issue but it has happened all across the county. Spot checks ensure fair market assessments in good times and bad.
January 11, 2019
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