Yes. Virginia Department of Taxation requires sales ratio studies for accounting of market and equalization in assessments. They use mathematical formulas to further validate our assessment department and analysis.
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Take the following steps:
1.) On the LouisaCounty.com homepage, click Online Tools (https://www.louisacounty.com/600/Online-Tools)
2.) Click Assessments (https://louweb.louisa.org/assess/)
3.) Enter ONE single detail for record search (i.e. name OR address)
Whereas significant federal and state government revenues are based on income, local government revenues in Virginia are derived primarily from property taxes. Real property (land, structures, etc.) assessments (and the Assessor’s Office which compiles them) are necessary to calculate property values.
State code requires property values to be assessed at 100% market value.
The Assessor’s Office determines mass market value by analyzing annual sales ratios (sales prices/verified assessed values). This process includes the analysis of pertinent characteristics on the sales properties. These include sale price, square foot of living area, type of home, year built, quality, condition, # of bedrooms, baths, # acres, etc. In addition, the location or neighborhood where the property is located is considered.
No. Properties are physically reassessed for improvements (building) taking place on the property and sales verifications. We are on a five-year rotation to physically see properties as scheduling allows.
Updated values are computed based on market values of property sales throughout the County on a mass appraisal analysis.
The Assessor’s Office assesses the value of property based on sales analysis from the previous years’ market. The Board of Supervisors sets the tax rate, which is the rate applied to a property’s value to compute the tax. On an annual basis, the Board sets the tax rate based on public input, budget needs, and other factors. Concerns about property values should be communicated to the Assessor’s Office, and concerns about the tax rate should be communicated to the Board of Supervisors.
The County has an appeals process. The property owner should contact the Assessor's Office prior to the listed deadline with specifics and documentation of why they feel the assessment is inaccurate. A field visit is scheduled to determine if any changes should be physically made to the appraisal.
The two are completely separate. The Board of Supervisors is elected by the County’s voters. The Assessor is a function within the Office of the Commissioner of Revenue, who is separately elected by the County’s voters. The Board has no oversight or authority over the Assessor’s Office. The Assessor provides summary County assessment data to the Board for the purposes of computing revenues, but the Board has no authority to change assessment data. The Board may change the tax rate, which impacts the tax due on a given property’s assessed value. This separation of duties is an important part of Virginia’s local government structure.
Citizens have multiple ways to address the Board of Supervisors with any questions or concerns about the tax rate. Citizens may contact their Supervisor directly, or provide public comment at a related public hearing. To find contact information for your District's Supervisor, visit https://www.louisacounty.gov/462/Board-of-Supervisors. To learn about the public comment process, see the Community Report at https://www.louisacounty.gov/1710/Community-Report.