WHAT IS MEANT BY FULL AND FAIR VALUE?

Full and fair value is the price at which the tax assessor believes a property would sell at a fair and bona fide sale by a private contract on October 1st of the pre tax year. the sale must be between a willing buyer and a willing seller.

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1. WILL TAXPAYERS BE INFORMED OF THEIR PROPOSED ASSESSMENT?
2. WHAT IS EXPECTED OF PROPERTY OWNERS?
3. WHAT HAS TO BE DONE DURING A REVALUATION PROGRAM?
4. WHY IS THERE A NEED FOR A REVALUATION?
5. WHAT IS MEANT BY FULL AND FAIR VALUE?
6. WHAT IS A REVALUATION?
7. WHEN WILL THE RESULTS OF THE REVALUATION BE APPLIED?
8. IS THERE AN APPEAL PROCESS IF I DISAGREE WITH THE NEW ASSESSMENT?
9. CAN I APPEAL MY TAXES?
10. WHAT IS THE NEW TAX RATE?