Marty Gordon
NRVsports@mainstreetnewspapers.com
Montgomery County is changing property tax reassessments from four to two years. Supervisors approved the measure during its regularly scheduled meeting this past week.
Currently, Montgomery County is the largest county in Virginia conducting reassessments on a four-year cycle.
The question for the public is how they will be affected by the change. There were pros and cons on both sides, but the county believes it will be better for everyone.
For the most part, county staff feels it would make the assessment more efficient and provide a better snapshot of the value of property.
“Reassessments are intended to restore equity within the county so that values
are at a uniform percentage of market value,” according to information provided by staff.
More frequent reassessments will provide a better reflection of the current market value of real estate, which results in more equitable tax bills throughout the county. One of the other pros show the new plan will smooth out real estate value adjustments versus potential abrupt large adjustments when values are set every four years. It will follow the established practices of peer counties, and in-house reassessment offers greater accountability and transparency, which supports the county’s desire to provide superior customer service.
In Virginia, real estate assessments are conducted to ensure properties reflect 100 percent of their fair market value.
According to a staff presentation, the overall plan would push all the work internally to county staff at a cost an estimated $856,000, which would include staffing, training and vehicles for assessors. The amount would be spread out over the next two years’ budgets.
The steps would include the following: create real estate valuation department; develop departmental budget and staffing plan; include costs in FY 27 budget proposal; recruit and train staff in fall 2026; and reassessment begins early 2027, concludes by the end of 2028.
The new assessed values would be effective Jan. 1, 2029 with values utilized for the June/December 2029 tax bills.
The overall goal is to physically inspect a third of all properties in the county each year. It had been relaxed in recent years due to technological advancements.
Field workers from the company Vision Government Solutions are currently visiting Montgomery County properties.
Property owners will receive notice of the new assessed value, which is not a tax bill but is the basis for future tax bills. If a property owner feels the assessment does not reflect fair market value or is not equalized with similar properties, they have the right to appeal.
Due to high demand, low inventory and rising construction costs, many Virginia localities saw significant increases over the four-year period that ended in 2024.
The final tax bill is calculated by taking the assessed value and multiplying it by the locality’s tax rate.
The county’s current real estate tax rate is $0.76 per $100 of assessed value.