The yearly determination of a property’s assessed value is done by the township assessing department. The Assessor is required by the State to assess all real and personal property in the township at fifty (50) percent of market value as of December 31 of each year. Market value is defined as the most likely price that a property would sell for in an arm’s length transaction with no undue influence suffered by either the buyer or seller. An individual selling price does not establish the assessed value of any property, rather an analysis of all sales is done to establish uniform values for all properties in Forest Home Township. Various factors are taken into consideration when establishing the assessment, including, but not limited to location, size and utilization, age, style, surrounding properties, and land and improvement values.