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Market Value by Year

The majority of changes in market valuation happen in December. This coupled with the magnitude of the changes (on the order of 175,000 properties) suggests that BRT is using "market value" to refer to the results of its annual mass reappraisal (described in BRT's Equalization 2002.) According to state law, BRT is supposed to reappraise every property in the city once a year. With 200 employees responsible for 560,000 properties individual reappraisals are understandably out of the question. Instead an attempt is made through the use of statistics and computer software to measure changes in value of entire neighborhoods and then allocate changes in neighborhood value to individual homeowners.

Year	Count
2000	151,501
1999	147,564
1998	94,122
1997	172,571