How often are properties in Williamsburg, VA re-assessed for tax purposes? This is a question that is frequently asked, especially in today's real estate climate as property values are, quite honestly, all over the board.

The answer of how often you can expect your real estate taxes to be re-assessed depends on whether or not you live in the "City of Williamsburg", James City County (those home always also have a Williamsburg address) or York County (could be a "Williamsburg"  mailing address or a "Yorktown" mailing address).

If you live in James City County, property tax assessments are done biennially on even numbered years. The tax rate has remained constant for many years at .77 cents per $100 of tax assessed value. For specific information on James City County tax assessments, please click here.

York County residents are also assessed on a biennial basis on even numbered years. The tax rate for York County residents is .66 cents per $100 of assessed value. Click here to see the process for York County tax assessments. To look up a specific property's tax assessment in York County please go here.

If you are a resident of the City of Williamsburg, your assessments are done every year. At the end of October of every year, the city has completed their review of assessments and posts them. Click here to see the exact process for the City of Williamsburg's tax assessment process.  The tax assessments for 2012 are certainly available at the City of Williamsburg's website. You can go here for current tax evaluations for the city.  The tax rate for the City of Williamsburg is .54 cents per $100 of tax assessed value.

The larger issue as you look at purchasing or selling  a property in any of these localities is truly to determine how much does the tax assessment means? The most important fact that I cannot emphasize enough is that the MARKET VALUE of any home is NOT the tax assessed value. Given the time frames for how often any one property is assessed, there is no way that in a fluctuating economy and fluctuating real estate market that the market value can be the tax assessed value (a given and fixed number.) Truly, the best way to determine what you should pay for a home or conversely what value you should use to list your home is to have a current market analysis done by the Realtor that is working for you.

Please do contact Deelyn at 757.503.1999 or email deelyn@lizmoore.comif you would like to have a market analysis done for your home or if you are considering a purchase in Williamsburg, VA.