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Home > Local > County launches property reassessment process

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County launches property reassessment process

Local
By Don Del Rosso
Source: Fauquier Times-Democrat
FRIDAY, JULY 18 2008

For the complete story, read the Fauquier Times-Democrat

For months, Fauquier officials have warned that local real estate values may tank because of the ever-weakening housing market, putting even more of a financial squeeze on the cash-strapped county.

If their gloomy forecast proves accurate, what may that bode for government operations, the school system and taxpayers?

Nobody knows for sure.

But answers to some of those and other pressing questions may start to emerge in about 15 months as Fauquier completes the mass appraisal of its real estate.

The board of supervisors will use the new values to set the real estate tax rate and determine spending levels.

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