AGENDA DATE: 1/15/2020
TITLE:
Title
2020 Real Estate Reassessment
BODY
SUBJECT/PROPOSAL/REQUEST: Discussion/Presentation Regarding 2020 Real Estate Reassessment
ITEM TYPE: Regular Information Item
STAFF CONTACT(S): Richardson, Letteri, Kamptner, Bessette, Lynch
PRESENTER (S): Peter Lynch, County Assessor
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." Also, State 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 2020 and notices are scheduled to be mailed to property owners on January 24, 2020. 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 more than 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, 2020 (even in a leap year); this level of appeal is referred to as an Administrative Review and is allowed by County Code ?15-702. Appeals may also be made to the Board of Equalization, if filed by March 30, 2020 or 30 days after the County Assessor has rendered his decision on a previously requested 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 ...
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