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What happens if land is subdivided following the issue of the annual valuation?

April 26, 2017annual happens ISSUE land subdivided valuation

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What happens if land is subdivided following the issue of the annual valuation?

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DERM will issue an amended valuation to reflect the changed situation. The amended land valuation will be used by a local government for rating purposes from the date of the change. An amended valuation may also be used for State land rental, and Office of State Revenue purposes.