Reassessment

Process

State law requires that all property be assessed at 100% of fair market value and mandates equity throughout the County. Since the population of Campbell County now exceeds 50,000, the reassessment cycle will take place every 4 years. The most recent reassessment was completed in 2023. 

Should you have questions, please feel free to contact the Real Estate office at (434) 592-9568, or at realestate@campbellcountyva.gov. 

FAQ's 

 What is the purpose of the County's Reassessment Office? This office is responsible for assessing the market value of all properties within Campbell County, except for properties owned by public service corporations, such as utility companies, rail companies, etc.
What is Market Value? The most probable price that a willing and knowledgeable buyer and seller will agree upon, assuming  a fair and normal sale with no undue pressure upon either party.
 How are real estate taxes calculated?  The real estate tax rate is set by Board of Supervisors annually.  The tax rate is applied to the assessed value, per $100.
What does equalization mean? State law requires that “uniformity” or “equality” of assessments be attained to ensure that the tax burden be distributed fairly.
What is the cost approach method to arriving at market value?  Involves estimating the cost of improvements and deducting any accrued depreciation and adding the land value.
 Why don’t all property values rise at the same rate every year?No two properties or neighborhoods are exactly alike. Factors such  as location, house type, age, condition, size, terrain, heating type, number of baths, basement finish, fireplaces, porches, garages, decks and many others must be considered. For a true comparison, Campbell County strategically places properties/parcels into specific neighborhoods. This ensures they are valued with similar properties within that respective neighborhood/region of the locality.    
 How can my value increase when I haven’t added on or renovated the building? Though not always the case, general economic conditions will influence the value of real estate.
How often are properties appraised?  Every Four Years 

Contact Us

  1. Real Estate

    85 Carden Lane
    Suite D
    Rustburg, VA 24588
     
    (434) 592-9568

    Email