AGENDA DATE: 1/16/2019
TITLE:
Title
2019 Real Estate Reassessments
BODY
SUBJECT/PROPOSAL/REQUEST: Discussion/Presentation Regarding 2018 Real Estate Reassessments
ITEM TYPE: Regular Information Item
STAFF CONTACT(S): Richardson, Letteri, Lynch
PRESENTER (S): Peter Lynch, County Assessor
LEGAL REVIEW: Not Required
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: Albemarle County Code ?15-1000 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 new reassessments. 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." Also, County Code ?15-1000 (C) 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 2019 and notices are scheduled to be mailed to property owners on January 25, 2019. Among the information traditionally provided by the County Assessor's Office is the average overall change in assessed value. At this point we are still completing our quality control on the County's almost 47,000 parcels.
Property owners who wish to request a review of their annual reassessment to the County Assessor must do so by February 28, 2019; this level of appeal is referred to as an Administrative Review and is allowed by County Code ?15-1002. Appeals may be made also to the Board of Equalization, if filed by March 29, 2019 or 30 days after the County Assessor has rendered his decision on the Administrative Review, whichever is later.
STRATEGIC PLAN: Quality Government Operations: Ensure County government's capacity to provide high quality service that achieves community priorities
DISCUSSION: Preparation of mass appraisals that result in fair and equitable asses...
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