Today in our local paper, the Daily Progress it was annouced that assessed values increased "slightly" on average .14%. The county os to release details today... I am watching for them.
Here is a quote from the paper:
"The value of five-acre parcels with existing houses, for example, declined about 2 percent. Residential properties on parcels larger than five acres increased .04 percent. Attached housing declined by 4 percent, and the value of condominiums declined by 4.6 percent."
This does not seem in line with the pull back in prices. But remember that Assessments are for Taxing the public not for setting the price to sell a home.
They went on to say:
"Land value overall increased 3.2 percent in Albemarle."
That too seems a little out of line (in my opinion).
The average reassessment increases or decreases, by magisterial district, are:
Rio: .81 percent
Jack Jouett: .43 percent
Rivanna: .57 percent
Samuel Miller: minus 1.18 percent
Scottsville: 1.4 percent
White Hall: minus .79 percent
Town of Scottsville: minus .46 percent.
Please see the full story at : Daily Progress