Rev & Tax sending letters to property owners of re-eval results
<span style="font-family: Arial, sans-serif; font-size: 12px; line-height: 13.8000001907349px;">Rev & Tax director John Camacho says the signing of Bill 413 into law last week helps with the department's effort to complete the revaluation of real property on Guam. The bill would extend the requirement of DRT to issue a preliminary notice by next month to property owners.</span>
January 5, 2015Updated: January 5, 2015
By KUAM News
By KUAM News by Krystal Paco
Guam - Rev & Tax director John Camacho says the signing of Bill 413 into law last week helps with the department's effort to complete the revaluation of real property on Guam. The bill would extend the requirement of DRT to issue a preliminary notice by next month to property owners.
"The vendor Cornerstone is just completing their values, so we're transferring those new values into the system getting ready to issue the preliminary assessment by February 2," he said. "We'll be sending out some letters to the owners of Guam letting them know all the results of the revaluation basically they increased and some of them may be decreased, and it will notify them what the increase in their values as well as the increase in taxes."
Camacho says it's been 20 years since a mass revaluation and reappraisal of real property was conducted for the entire island of Guam.
Guam - Rev & Tax director John Camacho says the signing of Bill 413 into law last week helps with the department's effort to complete the revaluation of real property on Guam. The bill would extend the requirement of DRT to issue a preliminary notice by next month to property owners.
"The vendor Cornerstone is just completing their values, so we're transferring those new values into the system getting ready to issue the preliminary assessment by February 2," he said. "We'll be sending out some letters to the owners of Guam letting them know all the results of the revaluation basically they increased and some of them may be decreased, and it will notify them what the increase in their values as well as the increase in taxes."
Camacho says it's been 20 years since a mass revaluation and reappraisal of real property was conducted for the entire island of Guam.