What is the purpose of reassessment?

Required by law, periodic reassessments ensure that every property has an accurate and current fair market value. This value is used to calculate property taxes, which are the product of the assessed value and the tax rate. 

The important thing to remember is why reassessment is both required by state law and important for local government and the taxpayers: The reassessment process ensures that the tax burden is distributed equitably and fairly. We want to make sure that some citizens don’t have a higher share of the tax burden than their property actually warrants, and we also don’t want to see citizens "fly under the radar" and avoid paying taxes on the actual value of their property. We will be sharing lots more information about the reassessment process in the coming weeks and months.

Show All Answers

1. What is reassessment?
2. What is the purpose of reassessment?
3. What real property is taxable?
4. What is fair market value?