That being said, tax assessments are being used by aggressive buyers (and supported by agents) to make low ball offers. I sold my home in Earlysville back in April. I was originally offered a price $34K below my asking price, which was supported by an appraisal less than a year old, but my agent's counsel was to accept the offer simply because it was a "good offer." To her dismay, I countered and got the price I needed.

If you want to see a market where houses are selling 24-30% below tax assessment, checkout what homes are selling for at Stoney Creek (Wintergreen).

There is no exact number. In fact it is not uncommon to see a home sell for over tax assessment in our area.

Happy House Hunting!

There is no general rule about assessments' relation to market value in Charlottesville/Albemarle and the surrounding counties.

With the dearth of sold comps, buyers (and sellers) are paying more attention to the assessments, but there is no market-wide correlation between what the properties are assessed for and what they are selling for.

That being said, sometimes correlations and insight can be drawn when analyzing specific properties and neighborhoods ...