What is the benefit of more frequent revaluations?

What is the benefit of more frequent revaluations?

More frequent revaluations allow growth in the tax base to be realized sooner and promote fairness in property value assessments. They ensure that new construction and renovations are valued closer to their actual market worth, preventing older properties and long-time residents from shouldering an unfair tax burden and shifting the tax burden to more closely align with where changes are happening in the market.