County Real Property Assessment

22% increase? That is really strange. Check out www.loudoun.gov for more detailed on your assessment. Actually, all Loudoun county assessments are available for viewing by anyone. Apparently, it's public information.

On the site, use the first pull-down menu on the right side of the screen. Click on "Assessment Data". You can then enter your address and see the assessment. You can also compare your assessment to your neighbors. I noticed that everyone on my street in Southern Walk was assessed at a substantially lower value than their purchase price. That's why I'm surprised that yours is 22% higher than your purchase price.

 

I actually am very familiar with that web site and have already browsed it. Yes, many on my street are still under what they paid for their home which settled prior to mine. I can't figure it out. We haven't even added a deck yet!

I've got a call in to the County assesor already to see if they have any illuminating information. I'll be sure to report back whenever I hear from them.

 

As someone else pointed out, you WANT your tax assessment to be below the market sales price. The assessment is for tax purposes only and does not reflect the true resale value. And generally speaking, tax assessments rise at a much slower rate than the actual market value. Our assessment rose by approximately $15,000 over last year, whereas our resale value has increased by over $60,000. We know the later figure because we refinanced after only 11 months in our home and had a new market appraisal, which was also confirmed by a resale of the same model down the street.

 

jtarnow - I agree that is why I was astonished to see mine was assessed 22% HIGHER than what I paid for the house in August! When I saw that most everyone on the street had a lower figure than what they paid at settlement, I knew somehting was wrong with mine.

I heard from the county this morning and was told the wrong percentage was entered due to a clerical error. They fixed it and it is now assessed just below what I paid in August, and right in line with all my neighbors.

Lesson to everyone else....when in doubt, call and question. The county folks were very nice and reasonable and with the differrence as huge as it was, it was 20 minutes so of my time very well spent.

 

Gee, I wish I was one of you lucky "underassessed" people. My home assessment went from $450,000 to $509,00 last year, and then to $592,000 this year. I am appealing it.

 

I forget the specifics of our assessment but the property went up and the dwelling went down, overall a $20k decrease from last year's assessment. I'll see where the paperwork is to post some specifics.