PROPERTY APPRAISALS

RESIG's property premiums are based on the insurable replacement costs of its member districts' property. The districts' insurance summaries (reported insurable replacement costs) were established by MAXIMUS during the 99/00 school year and are updated annually.

It is the district's sole responsibility to report any change in property values to RESIG as soon as changes have been made, or to ask RESIG to revise any values that it feels may be inadequate or overstated. These changes are made by submitting by an Appraisal Updating Form to RESIG.

Please note: Reportable changes to Building include both Demolition and Removal. When reporting the acquisition of a new portable, please complete the section titled "Supplemental Portable Data". Pay close attention to the section that addresses "Installation Costs". Installation Costs include all costs incurred by the district relative to the installation of the new portable such as tax on the building, additional floor load, transportation, the cost of a crane to set the portable in place, architect's fees, electrician charges, etc.