The process of updating the assessed values of real property for property tax purposes, to account for changing sales prices or construction costs In Indiana, reassessments are done periodically on a statewide basis The most recent reassessments have taken place for taxes payable in 1980, 1990 and 1996, with the next scheduled for taxes payable in 2002
The process of creating a new base for property taxation by updating assessments to reflect more recent values
If you make a reassessment of something, you think about it and decide whether you need to change your opinion about it. the moment when we make a reassessment of ourselves