306. ASSESSED VALUE

306 ASSESSED VALUE AND CLASSIFICATION 306.1 The assessed value of all real property shall be the proposed estimated market value established on or before January 1st of the year preceding the tax year, as determined by the Deputy Chief Financial Officer, except as follows: (a) The assessed value of new structures and other improvements added to the assessment roll as of July 1st each year shall be the estimated market value as of that July 1st; and (b) The assessed value of new structures and improvements added to the assessment roll as of January 1st each year shall be the estimated market value as of January 1st of the tax year. 306.2 The assessed value of a property shall be established on the basis of the most current, accurate, and conclusive evidence of market value available at the time the assessed value is determined, in accordance with the provisions of § 307. 306.3 The Deputy Chief Financial Officer is authorized to conduct exterior and interior inspection of a property if, in the Deputy Chief Financial Officer's judgment, an inspection is necessary in order to establish the assessed value of the property. 306.4 Class 1A or Class 1B Property shall be used for dwelling purposes. Class 1A Property shall comprise 3 or more dwelling units. Class 1B Property shall comprise no more than 2 dwelling units. SOURCE: Regulation No. 74-35 effective December 12, 1974, 21 DCR 1643 (January 20, 1975), 16 DCRR §§ 105, 106; as amended by Final rulemaking published at 73 DCR 010858 (July 31, 2026).