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How are assessments determined in Henrico County?

April 26, 2017assessments henrico county

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How are assessments determined in Henrico County?

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Buyers and sellers create value by their actions in the real estate marketplace. The fair market value of a property is the probable amount it would sell for today if exposed to the market for a reasonable period with informed buyers and sellers acting without undue pressure. The Real Estate Assessment Division has the responsibility of reviewing these market transactions and using this data to assess each property accordingly.