What does the term ase or pegged property refer to?
In a very few number of municipalities that have not conducted a reassessment since 1953, the value of the special franchise property installed prior to 1953, has remained frozen at that level present in 1953. In a muni with base or pegged property, ORPS will continue to provide an assessed value rather than a full value until that property is retired or the municipality goes through a reassessment. This is a complex topic and if further clarification is desired, please contact VSD staff.
