- Why reassess?
- What values do we use?
- When was the last Frederick County reassessment?
- Why now?
- What are the basic data collection procedures?
- What is the difference between sales price, appraisal, and assessments?
- How is value derived?
- How does the owner learn of this value?
- What do I do then?
- How does the owner appeal?
- Can I check my values and look at others?
- What do I do if my information appears wrong?
- What is the current tax rate?
Why reassess?
It is required by Code of Virginia § 58.1-3252:
There shall be a general reassessment of real estate every four years. Any county which, however, has a total population of 50,000 or less may elect by majority vote of its board of supervisors to conduct its general reassessments at either five-year or six-year intervals. Nothing in this section shall affect the power of any county to use the annual or biennial assessment method as authorized by law.
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What values do we use?
Code also requires reassessments be at 100% of fair market value. Fair market value is only a price paid by a willing buyer from a willing seller neither under constraint to buy or sell and unrelated by family or close association. (Foreclosures and forced auction sales prices cannot be included, nor can "family" sales or sales between related corporations).
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When was the last Frederick County reassessment?
The last reassessment was January 1, 2011. The next reassessment values will take effect on January 1, 2013.
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Why now?
Code requires us to reassess at a minimum every 4 years based on our current population.
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What are the basic data collection procedures?
- Assign the trained assessors of the Commissioner of the Revenue office to examine each property for all items that affect value such as size, land, additions, rooms, utilities, and other items affecting value.
- Yellow cards are left or taxpayers are interviewed.
- Yelllow cards are left and data is entered and further examined. Then, all data is checked and rechecked for accuracy, clerical errors, and reasonableness.
- County data such as zoning, road access, location, and neighborhoods is verified.
- Sales data is verified and rechecked and then applied (see below).
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What is the difference between sales price, appraisal, and assessments?
Sales price is the actual amount paid by a buyer for a property or group of properties.
Appraisal is a detailed single-property valuation obtained anytime throughout the year to be used for a wide range of purposes such as a mortgage, plan to sell, home equity loan, or estate valuation.
Assessment is a mass appraisal of property as of January 1 of the year of reassessment (2011 for this reassessment) and is for tax purposes. Assessments in Virginia must be at 100% of the fair market value but cannot exceed that. Assessments are based on large numbers of sales that are analyzed to determine values for large groups or similar properties.
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How is value derived?
Properties are sorted by type: commercial, industrial, residential, agricultural, or other lands. Sales used are verified as to fair market value. Sales are grouped by property types. Large numbers of sales are grouped and applied to numbers of similar properties. This is mass appraisal or assessment and not fee appraisal. Each parcel has appropriate land and improvement values separately stated and adjusted to recent qualifying fair market sales values.
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How does the owner learn of this value?
When data have been verified thoroughly, notices are mailed to the last known address of the owner. No notices will be sent until all data is verified and all field work and checks are completed. No rumor or other casual information should be considered prior to the mailing of the official notices from the Commissioner of the Revenue office.
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What do I do then?
Property owners, if dissatisfied, must prove the reassessment value to be wrong by clerical error or inequitable when compared to like properties.
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How does the owner appeal?
Any owner may appeal and attempt to prove the reassessment value to be wrong by clerical error or inequitable when compared to like properties. Dates, telephone numbers, or emails to schedule a hearing will be on every notice mailed. Hearings will be scheduled so no one has to wait long periods of time and to accommodate working owners.
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Can I check my values and look at others?
New values, when completed, will be on the website at www.frederickcountyva.gov/reassessment. They may also be viewed in the Real Estate Division of the Commissioner of the Revenue Office at 107 North Kent Street, Winchester, VA 22601. Owners may also call (540) 722-8319 or
Email Barbara
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What do I do if my information appears wrong?
Notify the Real Estate Division of the Commissioner of the Revenue Office immediately by phone at (540) 665-5680 or
Email Barbara
.
If you are emailing or leaving a telephone message, please be certain you leave return contact information and a brief statement of what you believe needs to be corrected so we can serve you better.
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What is the current tax rate?
The 2011 real estate tax rate set by the Board of Supervisors is $0.545 per $100 assessed value. Tax rates are set annually depending on the County budget needs.
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