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The accuracy of 2006 reassessments certified by the Department of Taxation
The Commissioner of the Revenue's office received written notification that the Virginia Department of Taxation completed their four-month review of the 2006 reassessment values. Approximately 620 sales occurring from November 2005 through February 2006 were compared to the 2006 reassessment values. The sales study found that the assessments in Stafford County were at 90.2% of sale prices. The purpose of this review is to develop an assessment to sales ratio to be used in the assessment of public utilities. As a result of this new ratio it is estimated that Stafford County will receive additional $150,000 to $200,000 in revenue from public utilities. |
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