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At what percent of market value do you appraise property?

The Office of the Assessor of Real Estate is required by the Code of Virginia and the City of Hampton Municipal Code to assess all real estate at 100% of fair market value.

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1. Why are real estate assessments important?
2. The internet record shows incorrect data for my property. What should I do to correct this?
3. If a home recently sold for $295,000, is that the fair market value?
4. If my home is destroyed or damaged due to a fire, hurricane or other fortuitous act how does it affect my assessment?
5. I did not renovate or make an addition to my property, so why did the value increase?
6. At what percent of market value do you appraise property?
7. When Are Taxes Due And To Whom Do I Pay Them?
8. Must the property owner allow an interior inspection of his or her property when contesting an assessment?