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

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
According to the paper, Najib, on the micro blogging site Twitter, said that the law will be reassessed.
'If people do not reassess the global situation in the light of the events of the last week, then they never will.'
'We've got to move forward and reassess, knowing that for the next two years we have a certain income to work with.
Nine years after a judge ordered Nassau County to reassess its properties because its system was so unfair, Republican leaders last week agreed to a county-wide reassessment.
For now, the panel recommends that clinicians reassess using any treatment that fails to reduce panic symptoms within eight weeks.
We will reassess the situation and take further action as warranted," he said.
Bins, chairman of the Council of 100, a Washington, D.C.-based national organization of black Republicans, says the Democrat's disastrous defeat will force blacks to reassess a failed strategy of supporting one party overwhelmingly.
A Nassau County Supreme Court judge ruled recently that the county should reassess its homes and small condominiums because its assessing methods are unconstitutional.
The team also calls for studies "to reassess the cause of death in the 28 to 52 percent of SIDS victims who are found with their faces straight down."
On Monday, Switzerland had joined Germany in saying that it would reassess the safety of nuclear reactors and possibly reduce reliance on them.
Two weeks later, they administered five consecutive recall tests to reassess the children's memory for the items.