Reassessment Notices were mailed December 2, 2022. If you have not received a notice, please contact the Commissioner of the Revenue's office as soon as possible to make sure the correct mailing address is on file.
PLEASE NOTE - THESE ARE NOT TAX BILLS
DETAILED PROPERTY CARDS are available by request from the Commissioner of the Revenue's office.
Meetings with the Board of Equalization have ended.
If you know of factual errors on your reassessment, please contact
the Commission of the Revenue's office.
THE COMMISSIONER OF THE REVENUE HAS THE AUTHORITY TO CORRECT FACTUAL ERRORS.
Contact 804-769-4225 or firstname.lastname@example.org.
You may also exercise your right to appeal to the Circuit Court. Please contact:
Clerk of the Circuit Court
351 Courthouse Lane, Suite 130
King William, VA 23086
For more information on standards used for the 2023 Reassessment, please download the King William County 2023 Reassessment Manual. Please note, it is a large document and may take a few moments to download. The document is saved as a searchable pdf.
Virginia law (58.1-3252) requires counties to periodically conduct a general reassessment of real estate. The last reassessment in King William County occurred in 2015.
The law (58.1-3280) requires assessors to ascertain and assess the fair market value of all lands and lots along with the improvements and buildings on them.
While these values become effective January 1, the Board of Supervisors does not set the actual tax rate until later in the year - during annual budget time. When the Board sets a new rate at budget time, the new rate will be used to determine the amount of real estate tax owed for 2023.
Tentatively, the Board will hold a public hearing on March 27, 2023 to give citizens the opportunity to share their opinions on the new tax rates and the budget. Budget discussions take place during Board of Supervisors Work Sessions and Regular Meetings. Citizens are encouraged to attend the meetings to hear what's being discussed
King William County retained Pearson’s Appraisal Service, Inc. to perform the County’s 2023 General Reassessment of real estate. The Code of Virginia mandates that each locality periodically perform a general reassessment of real estate to determine each property’s fair market value and to equalize each property’s value in relation to similar properties. Pearson’s Appraisal Service’s experience and familiarity with the Middle Peninsula and Northern Neck real estate market were important factors in King William County’s decision to retain its services.
- What is a reassessment?
Reassessment is the process of re-determining the value of property or land for tax purposes.
- Why have reassessments?
Periodic reassessments are required by law. The Constitution of Virginia, Article X, Section 2 states, "All assessments of real estate and tangible personal property shall be at their fair market value, to be ascertained as prescribed by law." King William County is required to reassess all real property at least every 4 years per Section 70-45 of the King William County Code (Ordinance 02-21 adopted March 8, 2021).
The purpose of property tax reassessment is to insure every property is valued fairly and to realign those values with values of other kinds of property which are assessed annually, such as personal property, utilities, and mobile homes. The Code of Virginia requires that all property be assessed at market value. Because market value changes over time, periodic reassessment is required.
For detailed information, see the Code of Virginia, Chapter 32 - Real Property Tax, specifically Articles 5-7.
- What should I expect from reassessment?
A reassessment will result in a new value being established for your property. This new value will replace the current value on your property and will be the basis used for determining the amount of Real Estate Tax owed. Please remember that an increase/decrease in property value does not automatically mean an increase/decrease in the amount of tax owed.