Real Estate Assesments

Real Estate Agent with Berkshire Hathaway HomeServices Simpson Realtors


Real Estate Assessments

As I have been going about my travels in Locust Grove Va for the past few days I have noticed the county assessment car so I thought I would give you a more indepth explaination about real estate assessment.

A real estate assessment is conducted periodically by your local government to assign a value to your home for taxation purposes. An assessment isn't the same as a private appraisal, and the assessed value of your home isn't necessarily how much you could sell it for today. Real estate assessment notices are mailed to homeowners every two to three years, depending on where you live.

Your notice will include some information about your property, such as lot size or a legal description as well as the assessed value of your house and land. Some additional details like the number of bedrooms or date of construction can often be found in the property listing on your local government's website. Your property tax bill will usually be calculated by multiplying your home's assessed value by the local tax rate, which will vary from town to town or county to county.

If you think your home's assessment is higher than it should be, challenge it immediately. The clock starts ticking as soon as the notice goes out. You generally have less than 30 days to respond but the procedure is usually outlined on the back of the notice.

If you want to know your homes current market value I would be happy to provide you with a Market Analysis.

Eunice Waller

Prudential Simpson & Assoc.


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