Q: WHY DO WE NEED TO CONDUCT A REAL PROPERTY REVALUATION?

A: IN ACCORDANCE WITH STATE STATUTE A REAL PROPERTY REVALUATION IS REQUIRED FOR THE 1999 GRAND LIST YEAR, I.E., THE PERIOD FROM OCTOBER 1, 1999 - SEPTEMBER 30, 2000 AND EVERY FOUR YEARS THEREAFTER. IN ADDITION, A REVALUATION PROVIDES THE PROPERTY OWNER WITH THE OPPORTUNITY TO HAVE THEIR PROPERTY TAXES BASED ON AN ASSESSMENT THAT TAKES INTO CONSIDERATION THE VALUE OF THE PROPERTY UNDER MORE CURRENT REAL ESTATE MARKET CONDITIONS.