Reassessment
Webster's Unabridged Dictionary:
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Re·as·sess·ment
n. (rē`ăs*sĕs"ment
A renewed or second assessment.
Barron's Business Dictionary:
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Reassessment
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.
| Reasonable Time, Reasonable Man or Reasonable Person, Reasonable Care | |
| Rebate, Reboot, Recall |
Barron's Real Estate Dictionary:
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Reassessment
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.
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.
| Reappraisal Lease, Realtor.com | |
| Rebate, Recapture Clause |
Investopedia Financial Dictionary:
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Reassessment
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.
Related Links:
Find out what steps you can take to reduce your bill. Five Tricks For Lowering Your Property Tax
Word Tutor:
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reassessment
IN BRIEF: n. - A new appraisal or evaluation.
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Copyrights:
Barron's Business Dictionary
Dictionary of Business Terms. Copyright © 2007 by Barron's Educational Series, Inc. All rights reserved.
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Barron's Real Estate Dictionary
Dictionary of Real Estate Terms. Copyright © 2008 by Barron's Educational Series, Inc. All rights reserved.
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Investopedia Financial Dictionary
Copyright ©2010, Investopedia.com - Owned and Operated by Investopedia US, A Division of ValueClick, Inc. All rights reserved.
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