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Market values (assessments) of properties are determined as of January 1 each year. Market Values are created by thousands of buyers and sellers acting independently. If sale prices in your area increase, the market value of your property may also increase even though your specific property did not sell or otherwise change during the year. Market values (and assessments) may change due to appreciation, depreciation, new construction, remodeling, rezoning or other changes.
Residential Assessments: Each year staff appraisers examine recent sales that occur within Manassas City neighborhoods. These sales are studied to determine if they represent fair market value (the price a willing buyer will pay a willing seller on the open market) and to confirm the physical features of the property being sold.
After adjusting for differences between properties, these sales are used as a guide to determine the proper assessment for all other properties in the neighborhood.
Non-Residential Assessments: In general, assessments for commercial properties are established primarily by analyzing the relationship of rental income to market value sales price. Again, assessment changes as of January 1 are the result of market activity during the previous calendar year.
Sales activity and price appreciation within the Real Estate market varies somewhat from neighborhood to neighborhood. Consequently, the percentage of assessment change also varies throughout the City.
Commissioner of the RevenueReal Estate AssessmentsP.O. Box 125Manassas VA 20108
The time period shown may not match that of the January 1 effective date of assessment. Areas covered are typically a zip code or other large area and do not reflect different changes within individual neighborhoods. In addition, property types may have been combined and do not take into account differing percentage changes between single family, townhouse, and condominium types of residential dwellings.
A mean or median percentage change can be overly influenced by the types of properties sold during the specified time period. For example, percentage changes can be misleading if more lower-priced homes sold during the beginning of the time period versus more higher-priced homes at the end.