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Is the purpose of a revaluation to increase taxes?

April 26, 2017increase purpose taxes

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Is the purpose of a revaluation to increase taxes?

2 Answers

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No. The purpose of an assessment revaluation is to make all of the parcels in an assessing unit fair and equitable in relation to each other, based on current market trends. In a declining market, revaluation could actually lower the assessments.

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No. The purpose of an assessment revaluation is to make all of the parcels in an assessing unit fair and equitable in relation to each other, based on current market trends. In a declining market, revaluation could actually lower the assessments. Whether taxes as a whole go up or down is based more on budgets than assessments.