reassessment


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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.

References in periodicals archive ?
That provision has been a bone in the throat of INGAA members, some of whom feel that not only is there no justification for a mandatory seven-year corrosion reassessment, but that keeping that requirement means that they would have to do all reassessments in seven years, just for the sake of coordination and best use of financial resources, although the other reassessments are not required until year 10.
Boss explains that the political fallout from this past summer's BP leak and congressional concern about a slow-moving distribution line integrity management rule-making at the Department of Transportation mitigated against congressional support for a more liberal reassessment yardstick, despite the fact that the GAO backed risk-based reassessment.
For example, in May, EPA proposed to revoke exemptions from regulatory limits on residues for 129 inert substances used in pesticide formulations, arguing that it lacks sufficient data to conduct the detailed reassessment required under the FQPA.
Further, Article 13A of the California Constitution excludes certain transfers from the definition of "change in ownership" that usually trigger a reassessment of property to fair-market value and a corresponding tax increase.
For more information about the Post Deployment Health Reassessment visit the Web site at https://fhp.
Hill filed a complaint in which he asserted broad claims of inequity stemming from the reassessment of real estate values in Lycoming County, Pennsylvania.
Under the reassessment process, UnumProvident is required to notify California insureds--those whose claims were denied between Jan.
The time period for reassessing large taxpayers is already one year longer than for other taxpayers and provides ample opportunity for CRA to audit the returns and issue reassessments.
But that reassessment came after children born to cocaine users were stigmatized as dramatically and permanently damaged, while their mothers were singled out for special condemnation and punishment.
Reassessment raised concerns among many that property tax bills would rise precipitously.
This 10-year reassessment process is scheduled for completion in 2006.
Silbergeld's reassessment of the data set revealed that the distribution of arsenic metabolites was consistent with the possibility of genetic differences in arsenic metabolism.