Prince William County's 2009 Real Estate Assessments

By
Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

If you live in Prince William County, Virginia, you've probably received your 2009 real estate tax assessment in the mail.  I hope you didn't pass out when you saw the 30% in the estimated tax value of your home.

Here are few things to make you feel better about the situation.

1.  Prince William County over-assessed your home in 2008, thereby you were overtaxed. 

2.  This adjustement is about 10% lower, in most cases, than actual market value.  (Market value is what a buyer is willing to pay for a home.)  This won't be the case if our market continues to see declining value, but for now, that's the rule of thumb.

3.  Don't be angry your assessment is low.  Be glad that you are finally being taxed what the average, fair market value of your home will likely be for the year.

The County hasn't decided where to land on the new tax rate.  However, the Board of County Supervisors has voted that the tax rate can not be increased any higher than $1.21 per hundred.

 

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Topic:
Real Estate General Information
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Virginia Prince William County
Tags:
prince william county appraisals
prince william county tax assessments
prince william county realtor

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Rainmaker
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Charles McDonald®
Charlottesville Solutions - Charlottesville, VA
REALTOR®, Principal Broker®, Owner

This is a good thing.... as long as buyers know the difference between assessed and appraised

your friend in Charlottesville Virginia?

Mar 28, 2009 10:38 AM #1
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Charles:  Great subject for a post! 

Mar 28, 2009 02:40 PM #2
Rainmaker
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Pat Fenn
Marketing Specialist for CJ Realty Group/Cindy Jones Broker - Springfield, VA

Tax assessments are always confusing for homeowners especially when they equate it to market value.

Sep 19, 2010 04:58 AM #3
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Pat:  Market value and tax assessed value are very different indeed. 

Sep 19, 2010 05:08 AM #4
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Chris Ann Cleland

Associate Broker, Bristow, VA
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