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Real Estate

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Q: Why have I received a notice of assessment change?

A: Section 58.1-3330 of the Code of Virginia requires that property owners be notified any time there is a change in the assessed value of their real estate. Code of Virginia

Q: Why is my assessment increasing or decreasing?

A: If your assessment increased, we may have reviewed the property record and picked up improvements that may not have been previously shown. Also, increases could have resulted from improvements made to your property during the past year.

Market values (assessments) of properties are determined as of January 1 each year.
Market Values are created by thousands of buyers and sellers acting independently. If sale prices in your area increase, the market value of your property may also increase even though your specific property did not sell or otherwise change during the year. Market values (and assessments) may change due to appreciation, depreciation, new construction, remodeling, rezoning or other changes.

Residential Assessments: Each year staff appraisers examine recent sales that occur within Manassas City neighborhoods. These sales are studied to determine if they represent fair market value (the price a willing buyer will pay a willing seller on the open market) and to confirm the physical features of the property being sold.

After adjusting for differences between properties, these sales are used as a guide to determine the proper assessment for all other properties in the neighborhood.

Non-Residential Assessments: In general, assessments for commercial properties are established primarily by analyzing the relationship of rental income to market value sales price. Again, assessment changes as of January 1 are the result of market activity during the previous calendar year.

Q: Is there a law that prevents assessments from changing more than a certain amount?

A: The Constitution of Virginia requires real estate assessments to represent fair market value. There is no provision to limit the amount of change from year to year.

Q: How does the percentage of change in my assessment compare to other city properties?

A: Overall, residential assessments have gone up an average 8% as of January 1, 2011 due to market conditions. Some assessments, of course, increased by more than the overall average, while some changes were less than the average.

Sales activity and price appreciation within the Real Estate market varies somewhat from neighborhood to neighborhood. Consequently, the percentage of assessment change also varies throughout the City.

Q: How do I determine if my assessment is correct?

A: To determine this, please select the following link. View Answer

Q: How can I appeal my assessment?

A: Please select the following link to view the answer. View Answer

Q: The Internet record shows incorrect data for my property. What should I do to correct this?

A: The Commissioner of the Revenue strives to maintain accurate real estate records. Please notify us immediately should you note an error in your property record by calling 703-257-8263, or writing to:

Commissioner of the Revenue
Real Estate Assessments
P.O. Box 125
Manassas VA 20108

Email Us

Q: Explain the differences between sales price, appraisals, and assessments.

A: Sales price is the actual price a buyer pays for a particular property. An appraisal is a detailed single property valuation, and may be obtained any time throughout the year. Appraisals can have a variety of purposes, e.g. mortgage loan, sale, home equity loan, and estate valuations. An assessment is a mass appraisal of property as of January 1 each year for tax purposes. Assessments are based on large numbers of sales that are analyzed to determine values for large groups of similar properties.

Q: Why is the change in my assessment different than the percentage published in the local newspapers for properties in my area?

A: Newspapers sometimes publish a summary of the average sale price in an area that compares one time period to another. While this may give a general indication of a percentage change in sales prices, it should not be compared to any percentage change in your assessment, for the following reasons:

The time period shown may not match that of the January 1 effective date of assessment.

Areas covered are typically a zip code or other large area and do not reflect different changes within individual neighborhoods. In addition, property types may have been combined and do not take into account differing percentage changes between single family, townhouse, and condominium types of residential dwellings.

A mean or median percentage change can be overly influenced by the types of properties sold during the specified time period. For example, percentage changes can be misleading if more lower-priced homes sold during the beginning of the time period versus more higher-priced homes at the end.

Q: How can a property be assessed for more than its purchase price?

A: Real Estate may be assessed for more than the sales price because the assessment reflects "fair market value." Fair market value is not necessarily the price paid for a piece of real estate, but rather, what it is worth on the real estate market. Values also change, and the property value may have gone up since the purchase. This is especially true if a piece of real estate was purchased several years ago, or if a person happened to get a good buy because of a distress sale condition. Assessed value should represent fair market value, which may or may not be the same as sales price.

Q: What is the current tax rate?

A: The tax rate for Fiscal Year (FY) 2013 - July 1, 2012 - June 30, 2013 - is $1.192 per $100 of assessed value plus a $0.174 fire/rescue levy. The tax rate for the Owens Brooke Special Taxing District is $0.163 per $100 of assessed value.

Q: How is real estate tax calculated?

A: The tax rate is $1.226 per $100 of assessed value plus a $0.169 fire/rescue levy for January through June 2012, and $1.192 per $100 of assessed value plus a $0.174 fire/rescue levy for July through December 2012.

To compute the real estate tax on a property assessed at $250,000, divide the assessed value by 100 and multiply by each tax rate then divide by 6 (months):

($250,000/100) x $1.226 = $3,065.00 / 6 = $510.83

Calculate the fire/rescue levy:
($250,000/100) x $0.169 = $422.50 / 6 = $70.42

Total tax due June 5, 2012: $581.25

($250,000/100) x $1.192 = $2,980.00 / 6 = $496.67

Calculate the fire/rescue levy:
($250,000/100) x $0.174 = $435.00 / 6 = $72.50

Total tax due December 5, 2012: $569.17

Q: How can I receive more information or speak to someone about my assessment?

A: Please select the following link to view the answer. View Answer