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Fredericksburg City Beat

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 pgould@freelancestar.com. Robyn Sidersky reports on city schools. You can reach her at 540-374-5413 or rsidersky@freelancestar.com.

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Assessments coming May 4

Blue Ridge Mass Appraisal Co. told me this morning that city residents should see their new assessments May 4. Assessment notices will come in the mail, and the new values will be posted to the Virginia Mass Appraisals Web site, so you can look at what happened to properties around you.

City officials have been talking about the possibility of a 25 percent decline in city property values as they have tried to plan for this reassessment. A Blue Ridge official said he’d defer to the city to release the information about the specific values, but he said the decline won’t be nearly that steep. 

 

 

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Permalink: http://news.fredericksburg.com/citybeat/2009/04/27/assessments-coming-may-4/

  • dicerotops

    Of course they are not going to drop the housing prices! If they do that, then they’ll have to drop the property tax owed. Nope. Your house will still not be worth what it was, but you’ll be paying the taxes as if it was.

  • tpkeller

    Your assertions are not correct. According to State Law, assessments must be set at 100% of the estimated fair market value. Real Estate tax rates are then adjusted to provide the same total amount of income as would be generated by the previous total assessment values. Individual property owners should generally see the same tax liability, unless their particular property has risen or fallen more than the overall average of the rest of the city’s property values.

    See this link on the Fredericksburg City web page, which explains the process:

    http://www.fredericksburgva.gov/Departments/CommissionerRevenue/index.aspx?id=869

  • spooncroon

    I had an appraisal in Janury for a refi. It was conducted by an appraiser chosen by the bank. It came in about 7k below my previous city assessment–and about 19k above the city assessment I just got.
    In other words, the city assessment is *lower* than a very recent appraised value. I am happy with my new assessment and think it is probably an accurate reflection of my home’s value.