County Assessments Up 18.7%

Two weeks after the discussion on, Peter Savodnok has a story in the Progress about Albemarle County’s sharp increase in the assessed values of homes. In 1997, assessments increased by 2.3%. 3.5% in 1999. 12.8% in 2001. This year? 18.7%. The Board of Supervisors blames the rising cost of real estate in the area. Some citizens are calling for a tax cut to keep the dollar value even. As the Charlottesville area becomes a more well-known and desirable place to live, is it possible that we could be priced out of our own homes? What’s the solution to this problem, both short-term and long-term?

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