Scope of Services
A revaluation is the process of determining the current market value of all taxable property in a municipality. Included in this process is the physical review of all land and improvements (i.e., buildings.) The basic objective of a revaluation is to achieve equity in the assessments so each property bears only its fair share of the property tax burden.
When there are significant changes to a taxable property, the assessor will establish a new market value of the property. These changes include new construction, major improvements to existing buildings, or a significant change in land use. This annual adjustment to the assessed value of the property is referred to as annual “Maintenance”.
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