General Reassessment Law and Legal Definition
General reassessment refers to the process undertaken by an authority to reassess all property in the authority. It includes collecting a new or verifying existing physical data through re inspection and re measurement, analyzing market data, and appraising all property at the same percentage of market value.
The following is a state law that provides a statutory framework regarding general reassessment:General reassessment means changes in value, entered in the assessor's books, of a substantial portion of the parcels of real property within a county resulting wholly or partly from reappraisal of value or other actions of the assessor or county equalization body or ordered by the state tax commission or any court. [§ 137.073 R.S.Mo.].
Legal Definition list
Related Legal Terms
- Adjutant General
- Attorney General
- Attorney General's Bill Letters
- Attorney General's Equitable Sharing Program
- Attorney General's Opinion
- Commercial General Liability Coverage
- Comprehensive General Liability Policy
- Comptroller General of the United States
- Delegated Function Related To General Vessel Safety Assessment
- Doctrine of General Average