Once a recorded sale becomes part of the Assessor’s database, an appraiser will visit the property to make sure the current information is correct, take a photograph and talk to the owner. If the owner is not home, a sales verification questionnaire is left for the owner to complete. The database is then updated with the new information. Valid sales recorded in the calendar year prior to the assessment effective date are used in determining the assessed value of a property. For example, sales that occurred in calendar year 2014 were used to establish the assessments effective July 1, 2015.
Using advanced mathematical and statistical procedures, price estimates and adjustments are then created based on a wide variety of property characteristics (such as size of the building, additions, location, condition, etc.). These estimates and adjustments are then used to calculate the respective fair market value of each property.
All assessment values throughout the city are rigorously tested and monitored, and any adjustments are made accordingly. We are a member jurisdiction of the International Association of Assessing Officers (IAAO) which helps us add layers of quality control with the latest and greatest in assessment practices and valuation techniques. We are held to strict compliance levels with respect to assessment accuracy, which helps us ensure fairness and equitability across valuations.
The value of a property can change during the course of the year for a number of reasons, such as demolition, fire, catastrophic damages, new construction (additions) and new improvements (buildings). The City of Norfolk has an established system of quarterly payments for real estate taxes beginning on July 1. Annual assessment notifications will be mailed out the first week of March. Supplemental assessments are authorized by the Code of Virginia §58.1-3291. The quarters are listed below.
First Quarter - July / August / September
Assessments effective July 1
Second Quarter - October / November / December
Assessments effective October 1
Third Quarter - January / February / March
Assessments effective January 1
Fourth Quarter - April / May / June
Assessments effective April 1
What to Expect at Your Formal Board of Review Hearing
Glossary of Terms
* As defined by the IAAO 2015 glossary
Examples of Sales That May be Disqualified
Real Estate AssessorEmail810 Union St.Room 402Norfolk, VA 23510Ph: 757-664-4732Ph: 757-823-1343Fx: 757-664-4128HoursMonday - Friday8 a.m. - 5 p.m.