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Why did the value of my building go up when I made no improvements?

Q: Why did my assessed value of the building portion of my property go up by over 40% when I made no substantial improvements to the house before the July 1, 2015 date?

My house was built in 1954. Don’t homes typically depreciate over time unless substantial renos (permitted) are completed?

Curious to know the justification.

A: I don’t have an answer yet but I’ve heard this from a couple of other people. Anyone have any idea why this might happen?