2003 General Reassessment of Real Estate

This web site contains the assessed values for every parcel of real estate (undeveloped land, or land and one or more buildings) in Montgomery County, including parcels in Blacksburg and Christiansburg. There are more than 32,000 parcels, with a total value of more than $4 billion. These values became effective January 1, 2003.

Virginia state law requires that all real property be assessed at its fair market value, and that all real estate taxes be levied uniformly and equally. Since annual property taxes are the product of the assessed value and the tax rate, accurate assessments are necessary to set tax rates, and to insure that the tax burden is borne equitably by all property owners.

Review Parcel Values and Information

To see the 2003 values and information for individual parcels, go to 2003 Reassessment Information below, and search by the owner's name.

For More Information / Frequently-Asked Questions
Why have reassessments?
What causes property values to change?
What is "market value"?
How can I tell if my reassessed value is fair and accurate?
What do I do if I think my reassessment is inaccurate?


Why have reassessments?

As required by the Code of Virginia, Montgomery County has conducted a general reassessment to be effective for 2003. Montgomery County is required to reassess all real property at least every 4 years. The last reassessment was effective for 1999.

The Code of Virginia requires that all property be assessed at 100% of market value. This is the value used to calculate property taxes, which are the product of the assessed value and the tax rate.

The goal of reassessment is to insure that appraisals are accurate and assessments are uniform and equitable.

What causes property values to change?

A property's value can change for a number of reasons: physical changes such as additions, garages, remodeling; or damage or destruction; to name just a few.

However, the most frequent cause of change in value results from a change in the market. When market value changes, so do assessed values.

What is "market value"?

Market value is defined as the amount a typical, well-informed purchaser would be willing to pay for a property, under the following conditions:

• The seller and buyer must be unrelated.
• The seller must be willing, but not under undue pressure to sell and the buyer must be willing, but not under any obligation to buy.
• The property must be on the market for a reasonable length of time.
• The payment must be in cash or its equivalent, and the financing, if required, must be typical for that type of property.

• Parcel ID
• Owner's name
• Site address - This is the address used by the emergency 911 system.
• Tax map number - This is the number for the official "tax map" of each parcel.
• Land value
• Building value
• Total value