What is the provision made in law for financing a mandated revaluation?

The correct choice regarding the provision made in law for financing a mandated revaluation is a five-year bond with annual payments. This option reflects how municipalities often manage the financial burden of a revaluation process, which can be substantial.

Financing through a five-year bond allows municipalities to spread the costs over a longer period, making it more feasible from a budgetary standpoint. Each annual payment can be anticipated and accounted for in municipal budgets, ensuring that there are sufficient funds to meet the obligations without the need for sudden, large outlays that might disrupt financial planning.

In contrast, a one-time payment at the start of the process could create significant cash flow challenges for municipalities, especially for those with limited budgets. Monthly payments could lead to complications in cash management and are often not structured under the law for such financing. Lastly, while state grants may be beneficial, they are not a mandated method for financing revaluations, as they depend on available state funds and policies that may vary over time. Thus, using a five-year bond with annual payments is the most structured and manageable method outlined in law for financing a mandated revaluation.