What is a property tax reassessment process?
A reassessment is a municipality-wide update of all property values for tax purposes to reflect current market conditions. The process begins with the town hiring an assessor who inspects properties or uses statistical models. Property owners receive notices of their new assessed values and have an opportunity to appeal. The new values take effect for the next tax year.
Why It Matters
A reassessment can significantly change your tax bill, either increasing or decreasing it depending on how your home's value changed relative to others in town.
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