Tax increase, what does that mean?

[Daniel A Lee Kim]

Hello,

I received a letter from the county or city (I'll have to double check) stating that the assessed property value has gone up by 30K.  What I'm trying to figure out is:

How can they raise the tax by almost 10%?  Can we put in a claim? Does this mean that he property value has gone up and can be sold, ideally for 30k more?

Trying to figure this out as it would impact the cashflow of this property.

Any help would be appreciated!

This property is located in VA Stafford county.

Thank you.

[Daniel Hyman]

@Daniel A Lee Kim

You can appeal the assessment, but I believe you would need to do so by 3/15.