assessment review

An assessment review is a process where the value or classification of a property is evaluated and possibly challenged. It involves re-examining the property's assessed value, which determines property taxes, to ensure it's accurate and fair. Property owners can request a review if they believe the assessed value is too high, often leading to a potential reduction in taxes. This process typically includes providing evidence or reasons for the adjustment and may result in a formal hearing. Overall, assessment review helps maintain equitable property taxation based on current market values.