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If your assessment increased, we may have reviewed the property record and picked up improvements that may not have been previously shown. Also, increases could have resulted from improvements made to your property during the past year. Market values (assessments) of properties are determined as of January 1 each year. January 1 is the effective date of the valuation. Market Values are created by thousands of buyers and sellers acting independently. If sale prices in your area increase, the market value of your property may also increase even though your specific property did not sell or otherwise change during the year. Market values (and assessments) may change due to appreciation, depreciation, new construction, remodeling, rezoning or other changes. Residential Assessments: Each year staff appraisers examine recent sales that occur within Manassas City neighborhoods. These sales are studied to determine if they represent fair market value (the price a willing buyer will pay a willing seller on the open market) and to confirm the physical features of the property being sold. After adjusting for differences between properties, these sales are used as a guide to determine the proper assessment for all other properties in the neighborhood. Non-Residential Assessments: In general, assessments for commercial properties are established primarily by analyzing the relationship of rental income to market value sales price. Again, assessment changes as of January 1 are the result of market activity during the previous calendar year.
Overall, residential assessments have gone up an average 5.70% as of January 1, 20120 due to market conditions. Some assessments, of course, increased by more than the overall average, while some changes were less than the average. Sales activity and price appreciation within the Real Estate market varies somewhat from neighborhood to neighborhood. Consequently, the percentage of assessment change also varies throughout the City.
Commissioner of the RevenueReal Estate AssessmentsP.O. Box 125Manassas VA 20108
The time period shown may not match that of the January 1 effective date of assessment. Areas covered are typically a zip code or other large area and do not reflect different changes within individual neighborhoods. In addition, property types may have been combined and do not take into account differing percentage changes between single family, townhouse, and condominium types of residential dwellings.
A mean or median percentage change can be overly influenced by the types of properties sold during the specified time period. For example, percentage changes can be misleading if more lower-priced homes sold during the beginning of the time period versus more higher-priced homes at the end.
The tax rate for Fiscal Year (FY) 2021 - July 1, 2020 - June 30, 2021 - is $1.263 per $100 of assessed value plus a $0.197 fire/rescue levy. The tax rate for the Owens Brooke Special Taxing District is $0.109 per $100 of assessed value.