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The survey found that 89 percent of Fairfax County residents were satisfied with the quality of local services and that nearly two out of three northern Virginia residents (Fairfax and Loudoun counties) were satisfied with the value of their property taxes in terms of what they receive in local services.
The word tax assessment is used in different ways, but often refers to a tax liability owed by a taxpayer. In the case of property, a tax assessment is an evaluation or an estimate of value that is typically performed by a tax assessor. The assessment leads to an "assessed value," which is a base number used in the calculation of the property tax.
Values may change over time, and many states require taxing jurisdictions to redetermine values every three or four years. The value of property is often determined based on current use of the property, rather than potential uses. [25] Property values are determined at a particular valuation date for each jurisdiction, which varies widely.
In 2020 in Franklin County, property values increased 20% while the average tax bill increased 7%, according to the Franklin County auditor. Why do other people's rising values help keep taxes low?
Property values in county have increased 9%, according to county appraiser. Tax bills are likely to rise unless millage rates are cut.
Home values across Wake County have shot up in the past four years, according to newly released results of the county’s 2024 revaluation. Residential properties rose an average of 53% in tax ...
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