Questions about Proposition 2 2/1: 23. Doesnt Proposition 2 1/2 mean that my taxes cannot increase more then 2 1/2 % per year?
1. What is a revaluation? A revaluation is an update of all assessments in the town conducted under the direction of the Board of Assessors. The Board of Assessors are state – certified individuals whose duties are to discover, list, and value all real and personal property in the town, in a uniform and equitable manner. The Board of Assessors is not involved in the collection of property taxes. 2. Why is a revaluation necessary? State law requires that all property in the town be assessed within ten percent of market value every three years. A revaluation is the most equitable way to accomplish this. 3. Will all property values change? Most likely, yes. However, not all property values will change at the same rate. Market value will have increased more for some neighborhoods and property types than for others. Some neighborhoods and property types may have decreased in value and others may have remained the same. One purpose of a revaluation is to make sure that the assessed values re
Related Questions
- Questions about Proposition 2 2/1: 23. Doesnt Proposition 2 1/2 mean that my taxes cannot increase more then 2 1/2 % per year?
- My propertys market value has gone up considerably from what it was. Does this mean my taxes will also increase?
- Doesn t Proposition 2 1/2 mean that my taxes cannot increase more then 2 1/2 % per year?
