Answer:State Law requires a revaluation every ten years. Rockland’s last full revaluation was completed in 2005. Over the past decade, the market value of property has far surpassed the property assessments which caused the City to fall below the minimum assessment standards set by State Law. When the City falls below the minimum assessment standards, the State reduces many reimbursements and exemptions which means that our property owners aren’t getting the full value of exemptions they are entitled to.
Recent Posts
State Law requires a revaluation every ten years. Rockland’s last full revaluation was completed in 2005. Over the past decade, the market value of property has far surpassed the property assessments which caused the City to fall below the minimum assessment standards set by State Law. When the City falls below the minimum assessment standards, the State reduces many reimbursements and exemptions which means that our property owners aren’t getting the full value of exemptions they are entitled to.
Recent Posts
