What is General Reassessment?

The Code of Virginia mandates that all real property be assessed for taxation purposes at 100% of market value and be fair and equitable.  Localities the size of Rockingham County are required by the Code of Virginia to conduct a reassessment a minimum of every four years.  A reassessment is a systematic review of all property in the county to determine a fair market value.  For Rockingham County the process includes exterior inspections of real property by staff assessors, as well as leaving questionnaires for property owners requesting information as needed about the interior of the buildings and the condition of the property.  Sales information for real property sold in Rockingham County is reviewed and a sales ratio analysis is performed by staff assessors to determine fair market value.

During a reassessment, all property values are examined and adjustments are made on individual properties where necessary based upon the above process.  This is done to achieve a fair and equitable distribution of real estate taxes.  Once this process is complete, reassessment notices are mailed to property owners reporting the new assessed values individually for both land and buildings.  Should the property owner(s) believe their assessment is incorrect, they may request an informal appeal with staff assessors.  The request must be made during the window of time noted on the reassessment notice.

If, after the informal appeal, the owner still disagrees with the assessed value, the owner may then request a formal appeal to the Board of Equalization which is an independent group of citizens appointed by the Circuit Court of Rockingham County.  During the appeal process the Board of Equalization may reduce the assessed value, increase the assessed value or affirm the assessed value established during the reassessment process.  If the owner is still in disagreement with the assessed value after the appeal to the Board of Equalization, the next level of appeals is directly to the Circuit Court of Rockingham County.

Show All Answers

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?