How does a revaluation/property value update coincide with the budget process?

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The revaluation of all properties is not affected by the budget process. Once the dollars for the municipality, schools, and county budgets have been approved by their respective governing bodies, the tax rate is determined by dividing the final budget dollars, to be raised from the property tax, by the community's total assessed valuation. Property taxes are, in effect, voter-approved spending. The next full town-wide revaluation is in the process of being budgeted for the 2016 property tax year.