REAL ESTATE ASSESSMENT FAQ
What is the difference between a mass appraisal and single property (fee) appraisal?
When an appraiser values your property for financing or other purposes, you usually receive an appraisal consisting of three or more sales that estimate the value. The scope of work is for an individual property. This is a single property or fee appraisal. Single property appraisals are not financially or logistically feasible for tax assessment purposes.
Mass appraisal is defined by the International Association of Assessing Officers (IAAO) as “the process of valuing a group of properties as of a given date, using standard methods, employing common data, and allowing for statistical testing”. It involves analyzing data collected in mass quantities, developing statistics from the data, and applying the results to large numbers of properties. The mass appraisal method is used for tax assessment purposes and is necessary to accomplish the assessment of the thousands of parcels within a locality.
What should I do if I notice incorrect information on my property record card?
You can help us with our goal of producing fair and equitable assessments by verifying that the information we have recorded for your property is correct. If you notice an error or have questions regarding your assessment, please contact the Real Estate Assessment Department at 804-693-1325 or email us assessment@gloucesterva.info. Our staff is available to explain the procedure for requesting a review of your assessment and/or correcting any erroneous data.
Why did I receive a Notice of Change in Assessment Letter?
In accordance with the Code of Virginia, a notice of change in assessment must be conveyed to the property owner when a situation arises that requires a change in an assessed value.
What are some situations where property values may change outside of the General Reassessment?
New construction
Additions or renovations to existing properties
Demolitions
Acts of nature or unintended acts such as fire, flood, storm damage, etc.
Corrections of factual/clerical errors
What is a Supplemental Bill?
A supplemental bill is sent out when a significant change to the property is completed and it has been finalized through permits. They only apply to the portion of the year that a new improvement has been on the property.
Why did I receive an Income and Expense Report Worksheet?
The request for income and expense data from owners of income-producing properties is authorized by the Code of Virginia (58.1-3294). This data, which shall be kept confidential in accordance with Virginia Code, is reviewed by the Assessor to assist in the development of accurate fair market values. Failure to provide the income and expense data in a timely manner will preclude the owner from utilizing such information as evidence in any future judicial proceeding. Code of Virginia 58.1-3294
Are real estate assessments a method for the County to raise taxes?
No. The Code of Virginia (58.1-3201) requires all jurisdictions to assess real estate at 100% fair market value. Currently, Gloucester County conducts biennial reassessments (every other year). Code of Virginia 58.1-3201
Will my real estate taxes go up or down if my assessment changes?
The Board of Supervisors determines the real estate tax rate for every budget year. Depending on the tax rate, the amount of tax owed on your property may increase, decrease, or remain the same.
How are real estate taxes calculated?
Real estate tax rates are expressed in dollars per one hundred dollars of assessed value. The current tax rate is $0.583 per $100 of assessed value.
Examples:
$0.583/100 x $200,000 =$1166
Or
0.00583 x $200,000=$1166
Or
$200,000/100 x $0.583=$1166
Where do I go to get a copy of a deed or plat?
Land records are public documents that can be researched in the Circuit Court Clerk’s Office. The office is located on the 3rd floor of the Courthouse at 7400 Justice Drive, Suite 327, Gloucester, VA 23061. Circuit Court Clerk's Office