CHARLOTTESVILLE, VA - In the annual review of property within the City of Charlottesville, the City Assessor's Office released figures that show the total value of taxable property including new construction increased by 1.35%. The City has 13,066 taxable residential parcels; approximately 49% will have a decline in value and 51% will not have a change, excluding improvements and new construction.
Here are some details of this year's figures:
- Assessment for existing residential property declined in value by 2.44%.
- Assessments for existing commercial property increased in value by 6.25%.
- Combined existing residential and commercial property increased in value by .61%. When new construction & re-classification are added to the value of existing property the total value of property in the City increased by 1.35%.
According to Charlottesville City Assessor Roosevelt Barbour, Jr., (RES), there was a decline in existing residential property values even though unit sales increased by 25%. The Assessor's Office reviewed assessments and sales information within the City to determine the assessed value for tax year 2013. Reassessment notices will be mailed to all property owners on January 31, 2013. Virginia law requires cities to assess all properties annually.
Charlottesville Commissioner of Revenue, Lee Richards, reminds residents that there are existing programs that can help residents who are in need of financial assistance. Residents are encouraged to apply for the City's Real Estate Tax Relief Program. Anyone 65 years of age and older with an annual income of $50,000 or less and a net worth of $125,000 or less, excluding their home and ten acres of land, may qualify for the program. Persons under 65 years of age who are permanently and totally disabled may also qualify.
Last year, this program aided 480 households with an average tax relief of $1,244. Applicants have until March 1, 2013 to apply for the Real Estate Tax Relief Program, and until May 1, 2013 to apply for the Rent Relief Program. The Charlottesville Housing and Affordability Program applications will be mailed by July 1, 2013 and applicants will have until September 3, 2013 to file or mail their application. Last year 568 applicants received $375 and 392 applicants received a $525 grant to assist with their Real Property taxes. Please contact the Charlottesville Commissioner of Revenue's Office at 434-970-3170 for assistance, or visit www.charlottesville.org/COR.
Property owners who have not received a notice by February 6th or have questions, are encouraged to call the Assessor's Office. Property owners wishing to discuss their assessments for 2013 must do so by March 1, 2013 to be eligible for a review for 2013. The Assessor's office is located on the third floor (Room 320) of City Hall, and the business hours are from 8 AM to 5 PM.
The telephone number is (434) 970-3136. Assessments are accessible on the City's website at realestate.Charlottesville.org Appeal forms are online at charlottesville.org/AssessmentAppealProcess, both libraries, and the Assessor's Office.