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County assessors: How do they put a dollar value on your home?
By LEE WOOLF
The Free Lance-Star
Date published: 2/27/2002
COUNTY ASSESSOR Dick Jones called our afternoon session "Appraisal 101," and that's as good a name as any.
Considering that property values in Stafford County have made their biggest jump in more than 20 years, I had lots of questions about assessments.
And with 35 years of experience as an appraiser, the last six in Stafford, Jones had lots of answers as we spent a few hours touring county subdivisions last week.
Jones heads a five-member team of appraisers who work for Stafford Commissioner of Revenue Scott Mayausky. More than 40,000 reassessment notices were mailed out to residents earlier this month, and they reflected an average increase of 14 percent to 15 percent in property values since the last assessment two years ago. The increase is the largest in the county since 1979.
Jones said the big increase simply is a reflection of higher sale prices for homes in Stafford.
"Builders are paying more for lots," he said. "And homeowners are paying more for houses."
At the current real-estate tax rate of $1.18 per $100 of assessed value, Stafford's average increase means the tax bill on a $100,000 home would jump $177. That equals $14.75 per month on a mortgage.
Jones wanted to make the appraisers' role in the process clear, however.
"People need to understand that we don't determine their tax bills," he said. "According to state code, our responsibility is to determine 'fair market value' for property. Then it is up to the Board of Supervisors to set a tax rate. They may raise it, lower it or keep it the same."
Jones said appraisers use local sales figures as a basis for the assessments.
For example, two homes built in the same year by the same builder with the same square footage might be appraised at different figures if they are located in different parts of the county.
"We're comparing markets, not houses," he said.
Appraisers consider sales from a "neighborhood" of similar homes to help them reach a bottom-line value on each property in the county. A neighborhood may be a self-contained subdivision, like Aquia Harbour or Augustine, or it could cover a larger area in more rural parts of the county, like Widewater or Hartwood.
Jones said appraisers determine a grade value for homes in each neighborhood. The grade values are Excellent, B, C or D, and may include plusses or minuses.
During our tour of Austin Ridge subdivision in North Stafford, Jones said most of the homes had a B grade, based on the quality of construction and the location with easy access to Interstate 95. For those homes, the B grade added 20 percent to the assessment.
Other factors that impact the bottom-line figure are the age and condition of the house, the square footage and the amenities.
Appraisers determine the square footage by taking exterior measurements of the home, being careful to consider all livable space, including overhangs, bay windows and dormers.
Read more stories about Stafford
Date published: 2/27/2002
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