Why does the Town conduct a Revaluation?

It is a statutory requirement to conduct revaluations. The Town can be penalized State for failure to conduct a timely revaluation.

It is also redistributes the tax burden based on the current market value. Over time certain areas or types of properties become either more or less desirable. Revaluation resets the values to reflect the current market value ensuring property owners are paying their fair share based on value.