For how many years can the value set by an appeal hearing not be changed by the BOA under certain conditions?

The value set by an appeal hearing can typically not be changed by the Board of Assessment (BOA) for a period of two years, under specific conditions. This two-year period reflects an important aspect of property tax appeals, where the stability of assessment values is paramount for landowners and assessment authorities alike. This duration allows property owners to have some certainty regarding their property’s assessed value, which is crucial for financial and planning purposes.

Maintaining the assessment decision for two years provides a balance between the need for accurate property valuations and the administrative burden on the BOA to constantly reassess properties. This fixed period encourages property owners who feel their assessment is too high or incorrect to pursue their appeals without the constant worry that the taxation authorities may alter the newly established values in the immediate future. After this two-year period, the BOA can reassess and change the property value if new evidence or evaluations warrant such a change.