July 30th, 2008
Why Do Municipalities Do Yearly Property Tax Assessments?
There are several good reasons why a municipality performs regular (usually annual) assessments of the property you own:
A town or city may receive an incentive of some sort (such as a higher bond rating) if they perform regular updates.More assessments mean fewer mistakes, which means less problems with lawsuits.Certainly the municipality wants to keep everything fair and equitable. By keeping tabs on the situation, they can avoid overcharging citizens.Cities and towns can adjust the value of state property by doing annual assessments. Land evaluation is locked once the last inspection. By making the rounds regularly, they can adjust the value of their land as well. property tax assessment