Definition of "Reassessment"

Nikki Serrano real estate agent
Nikki Serrano, Real Estate Agent Sellstate Real Estate

Reappraising a decision or strategy that has been made. An example is revising the value of real estate based on new information. The valuation may be needed in contract negotiations or tax matters. The reasons for the revaluation may be many such as recent comparable sales of property, economic conditions, and new tax laws.

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