Reappraisal process flawed?

Is the Pope Catholic? The Morning News of Northwest Arkansas has a good story this morning on Sen. Kim Hendren's request for a task force to study the reappraisal process. Like Benton County, Miller County is also conducting reappraisals this year. It is by its very nature an arbitrary process, and that's not a knock on the folks who are involved in the valuation. It's just difficult to determine, especially in a volatile market, the value of one's property. There is an appellate process, and many here locally are taking advantage of it. Still, residents can't understand why the value of their homes are being tripled in some instances while homes sales and prices are falling across the area.