What is the purpose of the Form RSR in the property assessment process?

The purpose of the Form RSR, which stands for Revaluation Status Report, is to convey updates on the progress of a revaluation project on a monthly basis. This form is essential for keeping various stakeholders informed, including the Division of Taxation and local government officials, about the status and timeline of the revaluation process. By providing necessary details regarding the advancement of the revaluation, the RSR ensures transparency and encourages communication between the conducting authorities and the relevant departments. This is crucial for maintaining adherence to state regulations and guidelines surrounding property assessments, making it an important tool within the overall assessment process.