A periodic valuation of property to establish new rates is known as what?

A periodic valuation of property to establish new rates is correctly referred to as a reevaluation. This process typically involves assessing the current market value of properties at regular intervals to ensure that tax assessments and other rates reflect the properties' true worth.

Reevaluation is important as it helps maintain equity in taxation and ensures that property owners are paying an appropriate amount based on the current market conditions. By periodically reassessing properties, local governments can adjust rates in response to changes in the real estate market, new developments, or shifts in property value due to various factors.

Other choices such as market assessment, rate adjustment, and property valuation, while related concepts, do not specifically indicate the periodic nature or the purpose of establishing new rates as clearly as reevaluation does. Thus, reevaluation stands out as the most accurate term in this context.