I gather you purchased one of the new or recently built attached condos or townhomes and if so, you are not alone in this quandary. Many of those properties, which were built anytime after 2003/2004, all seem to be assessed $100,000 to $200,000 more than what a homeowner paid for it.
Also, if you search the Norfolk property assessor's website, http://www.norfolk.gov/RealEstate , you will also notice that many of these assessed values actually increased over the past year, even if just by a mere $100.
Several years ago in Isle of Wight, homeowners faced the same situation but instead of lowering the assessed value, the assessorâ€™s officer appeased homeowners by reducing the mill rate and this did lower the taxes, slightly.
Itâ€™s always a challenge when trying to have your assessed values reduced, but not impossible. I would contact the assessorâ€™s office and ask them directly for an answer. Their number is (757) 664-3742.
Frank Biganski, Realtor ABR
Your townhome & condo expert!