Keller Williams Arlington, Virginia Discusses Property Value Assessments
January 14th, 2008 Categories: Arlington, Keller Williams, Selling
Beginning on, or around January 15th (tomorrow), the Department of Real Estate Assessments will be mailing all Arlington, VA property owners (including detached single family homes, townhouses, and condos) their assessed property values. All assessments are for 100% of value, meaning the assessed value = current sale price (if the property were placed on the market today). The assessment also includes last years’ property value. Formulas for calculation vary, but the Department uses adjustment factors that are dictated by neighborhood sales in order for assessed property values to equal sales prices.
If you believe that the assessed value is incorrect, there is a period of contention for your appeal (the final date of appeal should be listed on the document).
Bottom Line: The Department of Real Estate Assessments will be distributing property value assessments to all Arlington property owners that should be a comparable current market value price. If you have questions regarding your assessment, please call or email me!
No Comments yet »
RSS feed for comments on this post. TrackBack URI
