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reassessment

   Also found in: Dictionary/thesaurus, Medical, Legal, Encyclopedia, Wikipedia 0.01 sec.
Reassessment
The value of a property as determined by an appraisal after an appraisal was previously made. A reassessment usually occurs every year when a municipality orders appraisals to determine the liability for property taxes. Additionally, if a property owner wishes to dispute the value of an appraisal, he/she may request a reassessment. The reassessed value may take into account the quality of the property, values of surrounding properties, and market conditions in the area.

reassessment

Reviewing or updating the value estimates of real property for the purpose of calculating ad valorem taxes.



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Since the review was conducted, and following the United States' reassessment of the war in Afghanistan, Obama has been in constant communication with his staff and experts on the issue, he said.
She also said the reassessment would make the fight on "terrorism" more effective, the statement added.
 
 
 
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