Property Valuation – Cycle Length and Assessment Outcome

Yusun Kim () and Yilin Hou ()
Additional contact information
Yusun Kim: University of Connecticut
Yilin Hou: Syracuse University

The Journal of Real Estate Finance and Economics, 2025, vol. 71, issue 4, No 1, 545-586

Abstract: Abstract The conventional belief regarding the frequency of property assessment has been that annual revaluation is optimal. Practices, however, vastly differ from this norm and the length of assessment cycles diverge widely across tax assessing jurisdictions. This study fills a gap in the literature by examining the relation between cycle length and assessment outcomes, using panel data from the early 2000s to 2016 in Virginia and New York as two representative states. We examine the conditional correlation between revaluation lag and assessment uniformity among tax assessing jurisdictions in Virginia. We find that assessment uniformity tends to be lower by three to six percent when revaluation is delayed by an additional year; however, the rate of deterioration does not vary across jurisdictions with different cycle lengths. In New York, we find that switching from irregular to annual assessment is positively associated with assessment uniformity and administrative costs.

Keywords: Property tax; Valuation; Assessment cycle; Equity (search for similar items in EconPapers)
JEL-codes: H2 H7 R30 R38 R51 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s11146-023-09975-8 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:jrefec:v:71:y:2025:i:4:d:10.1007_s11146-023-09975-8

Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/11146/PS2

DOI: 10.1007/s11146-023-09975-8

Access Statistics for this article

The Journal of Real Estate Finance and Economics is currently edited by Steven R. Grenadier, James B. Kau and C.F. Sirmans

More articles in The Journal of Real Estate Finance and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().