Beginning May 1, the City of Norton will begin a general reassessment of all real estate within the city to be effective Jan. 1, 2020.
The City has awarded the contract to Pearson’s Appraisal Company of Richmond, Va. to perform the general reassessment. The appraisers are required by contract to visit each and every property and they will be taking photos of all structures. If no adult is home, the appraisers will leave a door hanger requesting additional information on the property. The field work will be completed in the fall of 2019 and each property owner will receive an assessment notice in late October 2019 or around Nov. 1, 2019 indicating the new proposed values. Property owners will then have the opportunity to make an appointment to meet with the assessors to discuss the values.
In early 2020, a Board of Equalization will convene to consider further appeals based on equalization of properties. The Board of Equalization is composed of city residents appointed by the Circuit Court. The Code of Virginia mandates each locality to periodically perform a general reassessment to determine each property's fair market value and its equalization in value to similar properties. The last general reassessment was effective Jan. 1, 2016. The effective date of the upcoming general reassessment will be Jan. 1, 2020. While assessment values are the basis on what a property owner will pay in real estate taxes, the actual tax rate determines what will actually be paid.
For more information concerning the basic process for a General Reassessment you may call the Commissioner of the Revenue’s office at (276) 679-0031.