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What
is a Current Value Update (CVU)? When a county is on a six-year
reappraisal cycle, they must complete a current value update
in the third year of their cycle. This update is applied
to those subgroups within the county that have fallen below current
market value. Therefore, some properties appraised values
may not increase in a CVU.
What does
this mean to your bottom line? Unlike a county-wide reappraisal program,
a county jurisdiction is not bound to keep the same tax base
in a CVU. Therefore, if your property is increased in a
CVU year, your property taxes will more than likely increase.
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