Sounds bad, but it's kind of obvious: unless you trigger a reassessment, how does the state's tax board even know that your house burned down? They have a list of addresses and values. The way that's updated IS reassessment.
Worst you can say is that the reassessment process should be automatic based on some map of impacted areas. But you might not want a reassessment if your home was in an impacted area but sustained no damage.
"House gone, please update value," isn't exactly crazy. But there should be a massive grace period to get it all worked out.
What's actually fucked up here is that some people will probably see their taxes increase on reassessment because the appreciation of the property since their last assessment will outpace the loss of the structure.
Sounds bad, but it's kind of obvious: unless you trigger a reassessment, how does the state's tax board even know that your house burned down? They have a list of addresses and values. The way that's updated IS reassessment.
That's true, but you can guarantee if there was a sudden shift that significantly raised property values, it'd be all hands on deck as they scurried around reassessing properties as quickly as they could.
And even if people do apply for reassessment (which I'm sure incurs a hefty fee), they'll drag their feet about it as long as possible.
Sounds bad, but it's kind of obvious: unless you trigger a reassessment, how does the state's tax board even know that your house burned down? They have a list of addresses and values. The way that's updated IS reassessment.
Worst you can say is that the reassessment process should be automatic based on some map of impacted areas. But you might not want a reassessment if your home was in an impacted area but sustained no damage.
"House gone, please update value," isn't exactly crazy. But there should be a massive grace period to get it all worked out.
What's actually fucked up here is that some people will probably see their taxes increase on reassessment because the appreciation of the property since their last assessment will outpace the loss of the structure.
That's true, but you can guarantee if there was a sudden shift that significantly raised property values, it'd be all hands on deck as they scurried around reassessing properties as quickly as they could.
And even if people do apply for reassessment (which I'm sure incurs a hefty fee), they'll drag their feet about it as long as possible.