The current fiscal year 2017 runs from July 1, 2016 to June 30, 2017.
The first two tax bills of the fiscal year which are due August 1st and November 1st are estimates based on the previous year's assessments. These are called preliminary tax bills. The actual bills which are due February 1st and May 1st will show your home's new value.
The fiscal year FY2017 assessments for single family homes and condominiums, were based on valid sales activity during calendar year 2015, with an assessment date of 1/1/2016.