Reassessment is the process of updating property values for taxation purposes. Mass reassessments update all properties in a jurisdiction to reflect current market conditions, occurring on cycles that vary by province (annually in some provinces, every few years in others). Individual reassessments may occur when properties are improved, damaged, or their use changes. Reassessment can shift tax burden among properties even if total municipal revenue stays constant—properties that increased in value more than average see higher taxes while those below average may see decreases. Municipalities often adjust tax rates after reassessment to achieve revenue targets, affecting how reassessment impacts individual tax bills.