State officials will tell the city Friday "go or no go, just like the astronauts" with plans to reassess city property at 100 per cent of market value beginning this year, city manager Robert Healy told the Cambridge City Council last night.

If the state decides Cambridge is not close enough to completing the property revaluation, the city will set a tax rate based on current assessments and mail out bills by December 1, Healy said.

And if Massachusetts Department of Revenue officials give the go-ahead for 100 per cent assessment, the city will collect "estimated" tax bills from local property owners now and then send out corrected bills in the spring when the revaluation is complete.

"I would hope we would be approved to send out estimated tax bills and go ahead with the reassessment. If we aren't, it's not a calamity," Healy said, but he added, "It's like medicine you don't want to take--you'd rather get it over with."

If the state tells Cambridge to wait a year on revaluation and instead set a tax rate, most property owners will pay about 15 per cent less than last year because of Proposition 2 1/2, Healy said. If reassessment is completed, many city tax bills are expected to go up.

The delay would allow property owners more time to appeal their new bills and might make for less confusion, Healy added.

So far, the city has collected more than $3 million in voluntary tax payments. It sent out estimated tax bills without state permision more than two weeks ago, and has since notified city residents that they do not have to pay the bills.