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It would be foolish, a waste of money, if the City of Evansville did a revaluation at this time. According to the article, Janesville is being required to do a revaluation by the state Department of Revenue because in 2008 Janesville's assessed values were so far below fair market values. That has not been the case in Evansville since its last revaluation. On the 2010/2011 property tax statement, it says Evansville's assessed values were 99.1% (.9910) of estimated fair market value. In the 2011/2012 property tax statement, falling prices probably will drive that ratio up to close to 100%, which is the target in a revaluation. It will be a long time before estimated fair market values get so high that a revaluation is needed.
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