City, County Assessments Released

A lot of us county residents headed to Albemarle’s GIS website on Sunday after Jim Duncan pointed that out assessments were available. (Mine didn’t change.) As Brandon Shulleeta points out in today’s Daily Progress, county property values are down only slightly this year, by 1.24%. The city released their assessments, too, and they saw a 0.63% increase. Both rates were buoyed slightly by commercial assessments, since residential assessments were somewhat lower. These changes are nothing like the enormous increases that we saw just a few years ago, during the real estate bubble, nor are they like the big drops we saw when it burst. Assuming that real estate tax rates don’t change much—not necessarily a fair assumption—then both localities are basically looking at flat funding, and we’re all looking at paying the same amount in real estate taxes that we paid last year.

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