It is required by Code of Virginia § 58.1-3252:
There shall be a general reassessment of real estate every four years. Any county which, however, has a total population of 50,000 or less may elect by majority vote of its board of supervisors to conduct its general reassessments at either five-year or six-year intervals. Nothing in this section shall affect the power of any county to use the annual or biennial assessment method as authorized by law.
- Virginia State Code also requires reassessments be at 100% of fair market value. Fair market value is only a price paid by a willing buyer from a willing seller neither under constraint to buy or sell and unrelated by family or close association. (Foreclosures and forced auction sales prices cannot be included, nor can "family" sales or sales between related corporations).
- The last reassessment was January 1, 2019. The next reassessment values will take effect on January 1, 2021.
- Virginia State Code requires us to reassess at no greater than every 4 years based on our current population. However, Frederick County Board of Supervisors voted to make the the general reassessment process every 2 years.
- Assign the trained assessors of the Commissioner of the Revenue office to examine each property for all items that affect value such as size, land, additions, rooms, utilities, and other items affecting value.
- Yellow cards are left or taxpayers are interviewed.
- Yellow cards are left and data is entered and further examined. Then, all data is checked and rechecked for accuracy, clerical errors, and reasonableness.
- County data such as zoning, road access, location, and neighborhoods is verified.
- Sales data is verified and rechecked and then applied (see below).
Sales Price is the actual amount paid by a buyer for a property or group of properties
Appraisal is a detailed single-property valuation obtained anytime throughout the year to be used for a wide range of purposes such as a mortgage, plan to sell, home equity loan, or estate valuation.
Assessment is a mass appraisal of property as of January 1 of the year of reassessment (2021 for this reassessment) and is for tax purposes. Assessments in Virginia must be at 100% of the fair market value but cannot exceed that. Assessments are based on large numbers of sales that are analyzed to determine values for large groups or similar properties.
- Properties are sorted by type: commercial, industrial, residential, agricultural, or other lands. Sales used are verified as to fair market value. Sales are grouped by property types. Large numbers of sales are grouped and applied to numbers of similar properties. This is mass appraisal or assessment and not fee appraisal. Each parcel has appropriate land and improvement values separately stated and adjusted to recent qualifying fair market sales values.
- When data has been verified thoroughly, notices are mailed to the last known address of the owner. No notices will be sent until all data is verified and all field work and checks are completed. No rumor or other casual information should be considered prior to the mailing of the official notices from the Commissioner of the Revenue office.
- Property owners, if dissatisfied, must prove the reassessment value to be wrong by clerical error or inequitable when compared to like properties.
- Any owner may appeal and attempt to prove the reassessment value to be wrong by clerical error or inequitable when compared to like properties. Dates, telephone numbers, or emails to schedule a hearing will be on every notice mailed. Hearings will be scheduled so no one has to wait long periods of time and to accommodate working owners.
- Notify the Real Estate Division of the Commissioner of the Revenue Office immediately by phone at (540) 665-5680 or Email Barbara . If you are emailing or leaving a telephone message, please be certain you leave return contact information and a brief statement of what you believe needs to be corrected so we can serve you better.
- The 2019 real estate tax rate set by the Board of Supervisors is $0.61 per $100 assessed value. Tax rates are set annually depending on the County budget needs.