PSI Virginia Real Estate Practice Exam

How can prospective homebuyers research special assessments on a property?

1. At the local public library

2. Through the county assessor's office

3. By contacting the local mayor's office

4. Via online real estate platforms

The correct answer is: Through the county assessor's office

Researching special assessments on a property involves obtaining specific information regarding any additional charges that may apply to the property beyond regular taxes, often for improvements or local services benefiting the property. The county assessor's office is the most authoritative source for this type of information. This office maintains accurate records on property tax assessments, including any special assessments levied by the local government. They can provide detailed records that a prospective homebuyer would need to understand what special assessments apply to a specific property, how they are valued, and the implications on future financial responsibilities. While other options may offer some insights—such as the local public library which may have general resources, or real estate platforms that could provide basic information and reports—they do not usually offer the detailed, authoritative data that the county assessor's office provides. The mayor’s office is typically focused on broader municipal issues rather than specific property assessments. Therefore, leveraging the county assessor's office is the most effective approach for accurately researching special assessments related to a property.