Cathy Dyson writes about King George County.
Appraisers visiting homes for reassessment
Appraisers have already started visiting property in King George as the county undertakes the next general reassessment of real estate, which will be effective Jan. 1, 2014.
Representatives from Blue Ridge Mass Appraisal Co. of Staunton will visit each improved property, according to a press release from the county. If no adult is home, they will leave a door hanger requesting additional information.
The field work should be completed in fall 2013, then property owners will get a change of assessment notice in October or November. Residents will have the chance to make an appointment with assessors to discuss their values.
Early in 2014, a Board of Equalization will listen to appeals from property owners.
By law, localities have to perform a periodic reassessment to determine the fair market value of each property. The last general reassessment was effective Jan. 1, 2010.
The appraisers will study the real estate market from the the last months of this year through all of 2013, said David Hickey, owner. He said he’s already noticed that values of residential properties have slowed considerably, especially “with the higher end of the local market.”
Assessment values determine the real estate taxes homeowners will pay. In 2012, the rate was 53 cents per hundred dollars of assessed value.