For example, four homeowners purchased homes in Horseheads for $100,000 in 2002. Over the years, the value of the real estate has changed. House A may now sell for $80,000, house B may still sell for $100,000, house C may now sell for $120,000 and house D may now sell for $160,000. Updating the assessments will reflect the new market values and will fairly distribute the tax burden based on the current market value of each property.