Why are some properties assessed higher or lower than what they sell for?

The appraiser does not get the opportunity to go into every home when assessments are made. Therefore, most assessments are based on exterior inspections. The appraiser tries to monitor each property so that assessments are fair and equitable and not in excess of market value. If the appraiser finds that an assessment is too low or too high they will make adjustments as needed.

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1. Why are assessments determined annually?
2. Why does Charlottesville assess at fair market value?
3. What is fair market value?
4. How does the Assessor's Office obtain information on properties?
5. How are property values determined?
6. What if there are no recent sales on a certain street or block?
7. Why do assessments change from year to year?
8. Why are some properties assessed higher or lower than what they sell for?
9. How does a property owner appeal an assessment?
10. How is the tax rate determined?
11. Does the City offer any other programs for financial assistance?
12. What is the stormwater utility fee?