AGENDA DATE: 12/15/2021
TITLE:
Title
2022 Reassessment Results
BODY
SUBJECT/PROPOSAL/REQUEST: Presentation of Calendar Year (CY) 2022 real estate reassessment results
ITEM TYPE: Regular Information Item
STAFF CONTACT(S): Richardson, Kamptner, Birch, Usher, Lynch
PRESENTER (S): Peter Lynch
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: Albemarle County Code ?15-700 requires all real estate in the County to be assessed annually as of January 1st each year and requires the County Assessor's Office to conduct a new reassessment. The Constitution of Virginia, Article X, Taxation and Finance, Section 2, Assessments, dictates that "all assessments of real estate and tangible personal property shall be at their fair market value, to be ascertained as prescribed by law." Virginia Code ?58.1-3201 requires all real estate assessments to be made at 100% of fair market value.
The Real Estate Assessor's Office has completed the annual reassessment process for CY 22 and notices are scheduled to be mailed to property owners on or before January 14, 2022. Information traditionally provided by the County Assessor's Office includes the average overall change in assessed value and the average change for different property classes. Additional detail is provided regarding single family residential properties, which make up the vast majority of properties in the County.
Property owners who wish to request a review of their annual reassessment by the County Assessor must do so by February 28, 2022; this level of appeal is referred to as an Assessor's Review and is allowed by County Code ?15-702. Appeals may also be made to the Board of Equalization if filed by March 30, 2022, or 30 days after the County Assessor has rendered his decision on a previously requested Assessor's Review, whichever is later.
STRATEGIC PLAN: Mission - To enhance the well-being and quality of life for all community members through the provision of the highest l...
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