This blog includes news about City Hall, city schools and other 22401 news.Pamela Gould reports on City Hall. You can reach her at 540-735-1972 or firstname.lastname@example.org. Robyn Sidersky reports on city schools. You can reach her at 540-374-5413 or email@example.com.
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Assessment appeals: Round one
Homeowners who appealed their assessments to Blue Ridge Mass Appraisal Co. should have received the result by now. Today, I stopped by City Hall to look at the thick report the assessor delivered to the Commissioner of the Revenue’s office on the appeals.
The bottom line: The net effect of the assessor’s adjustments brought the total value of property in the city down by $75.5 million.
The report lists every property that appealed its assessment, and what the result was. Since it’s on paper, it’s a bit difficult to analyze, but I did find one area where values changed greatly–land at Celebrate Virginia. I found 13 parcels in this development whose value was adjusted down by a total of $18.8 million. That accounts for about a quarter of the entire property value adjustment.
Reading the report, you can also see what kinds of adjustments were made. There are lots of instances where square-footage figures and details like fire places and finished basements are corrected. In other instances, the assessor has changed the land valuation factor for a neighborhood or specific property.
Obviously, this affects how much money the new tax rate will bring in, but remember that this is just round one of the appeals process. The City Council still has to appoint the Board of Equalization, which will start its work after July 1. Look for more in the paper on this as the process continues.