Will a Revaluation increase taxes?

Although a Revaluation may result in an increase of nearly each individual assessment, it does not mean that all property taxes will increase. You may be saying “SURE!” but remember assessments are only the base that is used to determine the Tax Burden. The Tax Burden is the amount that the Municipality must raise to operate the local government and support the many services each of us has come to expect, such as schools, police, etc. If the same amount of money is to be raised after the Revaluation as the previous year and each assessment doubles, the tax rate would merely be cut in half.

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1. What is a Revaluation?
2. Why is a Revaluation needed?
3. What happens during a Revaluation?
4. What is an informal hearing?
5. If I disagree with my assessment after a hearing, what are my options?
6. What is market value and who determines my property value?
7. What qualifications do the appraisers have?
8. Why did my land value increase so much?
9. Will a Revaluation increase taxes?