Why have reassessments?

Reassessments are required by law to insure that each property is valued fairly. As required by the Code of Virginia, the City of Hopewell conducted a general reassessment that will take effect on January 1, 2019. The Code of Virginia requires that all property is assessed at fair market value.

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1. What is reassessment?
2. Why have reassessments?
3. What should I expect from reassessment?
4. What is the reassessment process?
5. How will I know if someone has visited my property?
6. What causes property values to change?
7. What is “Fair Market Value?”
8. What do my real estate taxes go towards?
9. How can I tell if my reassessment is fair and accurate?
10. What do I do if I disagree with the assessed value?