What is required before a governing body endorses a revaluation?

Before a governing body endorses a revaluation, it is essential to submit proposed contracts for approval. This step ensures that the governing body has reviewed and authorized the agreements that outline how the revaluation will be carried out. These contracts typically involve hiring a qualified appraisal firm to perform the valuation and may include specifications on the methods to be used, timelines for completion, and the scope of work.

Obtaining local public opinion is often part of the overall process for informing and engaging the community, but it is not a formal requirement that must occur before endorsement. Conducting a financial audit of previous valuations is not generally necessary in the context of initiating a revaluation; it serves different purposes related to financial oversight rather than the endorsement process itself. Similarly, preparing a real estate tax refund plan is typically a separate action that might occur after a revaluation or in response to specific circumstances like appeals but is not a prerequisite for endorsing the revaluation itself.