Why do we need a revaluation?

As the market changes overtime there my be shifts in value of different types of property.  An example of this is if land only parcels are in abundance and building is slow, land only values could go down at a different rate than developed properties.  Waterfront may hold its values while non waterfront properties go up or down.  Commercial or Condos can change at a different rate than residential.   A revaluation adjusts for changes based on the sales that take place within the town.  It makes assessments between properties more proportional.