City of Charlottesville's 2018 Real Estate ReassessmentPosted: Updated:
The city of Charlottesville says your property is worth more now than a year ago and it could be reflected in your tax bill.
Property assessments for homes and businesses combined are up 4.9 percent this year. The average residential assessment is up by 6.7 percent. Nearly 9 in 10 homeowners will see a jump.
Existing commercial properties are up by an average of 2.6 percent. Half of businesses will see an increase.
01/31/2018 Release from Charlottesville:
CHARLOTTESVILLE, VA - The City Assessor's Office has completed the 2018 reassessment.
Of the 15,040 taxable properties, residential parcels increased by an average of 6.7 percent. Commercial properties (including apartments, retail, office, industrial, vacant land) increased by an average of 2.6 percent. When residential, commercial, and new construction are averaged together, taxable properties in the city increased by 5.7 percent in 2017.
Additional details of this year's figures include:
- Assessments for existing residential property increased in value by 6.7 percent
- 86.8 percent of residential assessments increased in value, 3.9 percent declined, and 9.2 percent did not change
- Assessments for existing commercial property increased in value by 2.6 percent
- 50.9 percent of commercial assessments increased in value, 25.8 percent declined, and 23.4 percent did not change
Combined existing residential and commercial property increased in value by 4.9 percent
New construction value included for 2018 is 0.85 percent
When new construction and reclassifications are added to the value of the existing property, the total value of property in the city increased by 5.5 percent
General FAQ's about the City Assessor's Office and assessment process can be found at www.charlottesville.org/assessor. The City Assessor's Office can be contacted via telephone at 434-970-3136, Monday-Friday, 8 a.m. to 5 p.m.