revaluation
Noun
Meaning
A second or new valuation.
Source: Webster's dictionarySynonyms
Antonyms
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Examples
After the renminbi was instituted by the new communist government, hyperinflation ceased with a revaluation of 1:10,000 old Renminbi in 1955.
According to the ballot measure that passed last fall, the funding for the property revaluation was capped at $290,000; and the cost would be covered by money from the Undesignated Fund Balance.
In late 2009, North Korea revalued its currency, effectively confiscating all privately held money above the equivalent of US$35 per person. citation The revaluation effectively wiped out the savings of many North Koreans.
But it does mean that after last year’s revaluation, in which everyone I know saw a tax increase in spite of the mil rate reduction, any increase won’t come from the pocket of existing residents.
He said work done now would end up being superseded by a wider revaluation next year.
Frequently, these changes are due to the formation of new governments, treaties between countries standardizing on a shared currency, or revaluation of an existing currency due to excessive inflation.