Why is real property assessed and reassessed?
The Office of the Commissioner of the Revenue is responsible for administering all the County’s ad valorem taxes. An ad valorem tax is simply a tax based on the value of the taxable item. Real estate is the best example of an ad valorem tax. Virginia Code §58.1-3201 states: All real estate, except that exempted by law, shall be subject to such annual taxation as may be prescribed by law. All general reassessments or annual assessments, in those localities which have annual assessments of real estate, shall be made at 100% fair market value.

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1. Why is real property assessed and reassessed?
2. Why tax real property?
3. What real property is taxable?
4. When are assessments effective?
5. What is General Reassessment?
6. How will this effect my taxes?
7. Who conducts the general reassessment?
8. If my taxes are paid through my mortgage escrow, do I have to do anything with this new assessment?
9. Why must real estate be taxed at fair market value?
10. What is exactly is “market value?”
11. Why have I received a notice of assessment change?
12. Why is my assessment changing?
13. Is there a law that prevents assessments from changing more than a certain amount?
14. How can a property be assessed for more than its purchase price?
15. What is a home site and how is it valued?
16. Why is my three acre tract valued at a higher rate per acre than my neighbor who has fifty acres?
17. I live in a manufactured “mobile” home, what is the “Improvement Value” that I am taxed for?
18. How can you tax an outbuilding that has no electricity and is not livable?
19. My house is under construction and only partially complete. Why are you not waiting until it is complete to assess me?
20. If I no longer own this property, what should I do with the notice?
21. Explain the differences between sales price, appraisals, and assessments.
22. Can I obtain a copy of my real estate assessment card?
23. How is real estate tax calculated?