Last year many Loudoun County homeowners were screaming foul as tax assessments skyrocketed yet home values fell. With so many appeals - the Assessor's Office claimed to "assess properties based on 100% of 2005 fair market value".
Many citizens were not pleased with this response, claiming they could not sell their homes for anything near the assessed value, and many homeowners appealed with justifications based on which neighbors sold recently and at what prices...
The Assessor's Office then noted that most property assessments would decrease for 2007 - as the new assessments would be based on "100% of 2006 fair market value".
And so we wait...
The Assessor's Office will mail the 2007 assessment notices in mid-February. You may want to pay special attention to yours...More information, including 2007 Assessment Review Application forms and answers to frequently asked questions, is available on the Loudoun County Government Website at www.loudoun.gov/assessor .