Thank you, Mr. Chairman. The last general assessment was done back in the 1980s. There have been no reassessments done over the last ten years of any significance. What the assessment process tries to do is take a look at the costs of developing those lands and set a value to that.
I think part of the issue is the fact that costs have gone up over the ten years, not to the extent as...but I think also the values that were in place ten years ago, I know in some cases lots were valued at $1,000 or $2,000. Today, the costs of developing those lands is considerably higher. The assessment process tries to set a value to that. I might also add that the Board of Revision is established. Their responsibility is to review assessments. If they think our staff was wrong, they have to go and defend their assessments. If they think their assessments are too high, we told them to change them. That is why there is an independent process to review that, to ensure the system is as open as it can be. Thank you.