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What happens to the Tax Abatement program if the property is revalued after it has been modified?

April 26, 2017abatement happens modified program Property revalued tax

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What happens to the Tax Abatement program if the property is revalued after it has been modified?

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In the event that a general property revaluation is undertaken by the municipality, the property will still be eligible for the tax exemption, but additional taxes due against the original assessment would need to be paid.