According to the Altavista Journal, "Campbell County property owners will not receive their reassessment notices until 2011, but the county real estate office is already gathering the information necessary for the setting of new property values.

According to information provided by Alan Lane, director of management services for the county, Virginia law requires all real property, residential and commercial, to be assessed for taxation purposes at 100 percent of market value, and the assessments must be fair and equitable. Campbell County is required by state law to conduct a property reassessment every four years. The last reassessment was done in 2007." Homeowners should brace for significant drops in their assessments given the state of the housing market.

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