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.].