Mark Worrilow of Fathom Realty is a licensed broker/instructor in Virginia.
Stafford County residents recently received their bi-annual property tax assessments, which revealed a significant increase in property values. On average, residential real estate grew by 13% and commercial real estate by 23%.
Mark Worrilow, a real estate expert with Fathom Realty specializing in Stafford County, weighed in on the implications and offered advice to homeowners.
Worrilow emphasized the importance of understanding that the assessed value determined by the county reflects the value of a person's property for tax purposes. He urged homeowners to critically assess the market value of their properties, rather than reacting too quickly to appraised values. He said, “Before you say, 'I can't believe my home is valued so much,' ask yourself, 'Is my home really worth it?'”
Experts emphasized that homeowners have the opportunity to request a revaluation if they believe their property's value has been inaccurately assessed. Mr Worrilow emphasized the need for homeowners to work with local authorities to understand the impact of property assessments on their taxes, saying: There is no one to blame but us. ”
In Virginia, local governments rely heavily on property taxes to fund their operations, making property valuations an important aspect of local governance. Worrilow emphasized the importance of understanding tax rates and tax rates and urged homeowners to learn where their taxes are allocated.
Worrilow agreed with Stafford County Revenue Director Scott Majawski's assessment of rising property values due to supply and demand dynamics. He acknowledged that a lack of available housing and high demand are the main factors behind soaring real estate prices in Stafford County.
A “dad” to a German Shepherd puppy (which he calls “Suppy”) and a husband to a wonderful wife, Mark loves reading, cooking, and smoking. Golf balls and fishing lures were also lost.
Mark is a retired naval officer and has been a REALTOR® for over 27 years. He is also an instructor for numerous continuing education and his REALTOR® professional growth classes.
Having lived in Prince William/Stafford since 1991, he is very familiar with these areas and markets. A believer in giving back to those who serve the community, Mark has programs in place to support people buying and selling in Northern Virginia, and has many of his agencies doing the same. As a proud member of Rotary, he also extends these benefits to members of service organizations.
