Q: I HAVE HEARD THAT IF I TAKE OUT A BUILDING PERMIT, THE REAL PROPERTY ASSESSMENT WILL NOT CHANGE UNTIL THE CERTIFICATE OF OCCUPANCY HAS BEEN ISSUED?

A: THIS IS NOT ALWAYS TRUE. IT DEPENDS OF THE PROGRESS OF THE STRUCTURAL MODIFICATION AS OF THE ASSESSMENT DATE. EVERYTHING DEPENDS ON THE STATUS OF THE WORK AS OF THE ASSESSMENT DATE. IF ANY PERCENTAGE OF THE STRUCTURAL MODIFICATION WAS COMPLETE ON AN ASSESSMENT DATE, A REAL PROPERTY OWNER SHOULD EXPECT TO RECEIVE AN ASSESSMENT INCREASE NOTICE THE FOLLOWING JANUARY IF MODIFICATION, UPON COMPLETION, WILL ADD TO VALUE.