👉 Revetting, also known as revalving or revaluation, is a process in which the value of an asset (such as a piece of real estate) is increased or reduced by the government's assessment. This can be done to reflect changes in market conditions, such as inflation, interest rates, or economic activity. In some cases, revetting may also be used to increase the tax liability of individuals who have purchased property at a lower price than they would have if it had been sold at
