Worrilow on Real Estate: What you should know about increased housing assessments in Stafford County

Mark Worrilow of Fathom Realty is a Licensed Broker/Instructor in Virginia.

Stafford County residents recently received their biannual property tax assessments, revealing a significant increase in property values. On average, residential properties saw a 13% rise, while commercial properties surged by 23%.

Mark Worrilow, a real estate expert with Fathom Realty specializing in Stafford County, weighed in on the implications and offered advice for homeowners.

Worrilow emphasized the importance of understanding that the assessed value determined by the county reflects the worth of one’s property for tax purposes. He urged homeowners not to react to the assessment figures immediately but to evaluate their property’s market value critically. He stated, “Before we say, ‘I can’t believe my house is being assessed so much,’ ask yourself, ‘What’s your house really worth?'”

The expert highlighted the opportunity for homeowners to seek a reassessment if they believe their property’s value is inaccurately assessed. Worrilow stressed the need for homeowners to engage with local authorities and understand the implications of property assessments on their taxes, stating, “All politics is local, and deal with your county supervisor or city or town councilor… If we’re not involved, then we have no one to blame but ourselves.”

In Virginia, localities heavily rely on real estate taxes to fund local government operations, making property assessments a vital aspect of local governance. Worrilow underscored the significance of understanding tax rates and assessments, urging homeowners to educate themselves on where their tax dollars are allocated.

Regarding the increase in property values attributed to supply and demand dynamics, Worrilow concurred with Stafford County Commissioner of the Revenue Scott Mayausky’s assessment. He acknowledged the scarcity of available homes and high demand as key drivers of escalating property prices in Stafford County.

A “dad” to a German Shepherd puppy, or as he calls it, “Shuppy,” and husband to a wonderful wife, Mark likes to read, cook, and use his smoker. He also loses golf balls and fishing lures.

Mark is a retired naval officer and 27+ year career REALTOR®. He is also an instructor for numerous continuing education and REALTOR® professional growth classes.

A Prince William/Stafford resident since 1991, he is well-versed in these areas and markets. A believer in giving back to those who serve our community, Mark has a program to support those buying or selling in Northern Virginia and has numerous agents who work for him who do the same. As a proud member of Rotary, he also extends these benefits to service organization members.