Requires every assessing unit to conduct a revaluation of assessment at least every eight years

This bill requires all local governments (assessing units) to update property tax assessments at least once every eight years. It mandates a formal revaluation of property values to ensure tax assessments remain current, directly affecting property owners through potential changes in their tax bills. The requirement applies to all property tax assessments filed on or after January 1, 2030, with implementation rules to be finalized before that date. The bill does not change tax rates or add new taxes, only establishing a regular schedule for reassessing property values.