King William County has retained Pearson’s Appraisal Service, Inc. to perform the County’s 2023 General Reassessment of real estate, which will become effective on January 1, 2023. The Code of Virginia, 1950, as amended, 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.
Pearson's Appraisal Service, Inc. is onsite at the County Administration Building located at 180 Horse Landing Road, during regular business hours.
Project Manager - Fred W. Pearson, Certified General Real Estate Appraiser and Certified Professional Assessor
Project Supervisor - Randy C. Willis, Professional Assessor
Field Appraisers - David Baldwin, Michael Casey, and Joseph Harper
Clerical/Data Entry - Miranda Berry
Members of the reassessment team will begin visiting properties in September of 2021. They will be carrying photo identification and will have magnetic County Reassessment signs on their cars. We want to alert the public to this as our appraisers will be coming out to residents’ homes to look at their property in general, as well as to take exterior pictures to assist in determining their fair market value. Our goal is to obtain accurate assessment of all real estate in the county. Reassessment staff will not be entering any homes.
The field assessments are expected to be completed in June of 2022 and the notices of the proposed changes in the assessed value will be mailed out to property owners in the fall of 2022. These notices will also give the details on the method of appealing the proposed assessed values.
About Pearson's Appraisal Service, Inc.
The home office of Pearson’s Appraisal Service, Inc. is in Richmond, Virginia. Pearson’s Appraisal Service, Inc. is a leader in mass appraisal in Virginia, North Carolina, and Georgia, having appraised over 3,000,000 properties. During its forty years of working in Virginia, Pearson’s Appraisal Service has appraised more waterfront properties than any other firm. Pearson’s completed the last five reassessments for Charles City County, the last two reassessments for King and Queen County, and is currently working on the reassessments in Westmoreland County and Richmond County.
If a property owner has any additional information that they would like the appraisers to know please call 804-564-9393 or 804-560-9200. Additional information may also be emailed to email@example.com. Pearson’s office in the County Administration building is open to the public during regular business hours and may be reached at 804-769-3027.
- 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.