Yes, property values probably will change, but all property will not change at the same rate. There are differences between individual properties and between neighborhoods. In one area, the sales may indicate a substantial increase in value in a given year. In another neighborhood, there may be no change, or even a decrease in property values.
For example, one-story houses may be in more demand than two-story houses or vice versa. Older homes in the same area may be rising in value more slowly than newer homes. Among the numerous factors to be considered that will cause values to differ are location, condition, size, quality, number of baths, a finished or unfinished basement, garages, and many others. However, higher assessments do not necessarily translate into higher taxes.