Reassessment

A renewed or second assessment.

The process of re-determining the value of property or land for tax purposes.

Investopedia Says:
Property is usually reassessed on an annual basis. You may request a "reassessment" if you disagree with your assessment.

In general: reviewing a policy or a decision.

Real estate: process of revising or updating the value estimate of property for Ad Valorem tax purposes. Local property tax assessors are required to periodically conduct a reassessment of all property. Value estimates are revised based on recent sales and other data, and tax assessments are based on the new estimates.

The process of revising or updating the value estimate of property for Ad Valorem Tax purposes.
Example: Local Property Tax assessors are required to periodically conduct a reassessment of all property. Value estimates are revised based on recent sales and other data, and tax Assessments are based on the new estimates.