How does property tax reassessment impact my property taxes?

In India, property taxes are levied and collected by the local municipal corporations. Property tax reassessment is done periodically to ensure that the taxes being collected are in line with the current market value of the property. If the reassessment results in a higher value for your property, then you may end up paying higher property taxes. Conversely, if the reassessment results in a lower value, you may end up paying lower property taxes. It is important to note that property tax reassessment may vary depending on the state and municipality. It is best to check with your local municipal corporation for specific details on the process and its impact on your property taxes.