Charottesville VA and Albemarle County 2011 Tax Assessments Down Slightly
New property assessments for Charlottesville Virginia and Albemarle County will be coming out this week. Area residents will not see a huge change in their home's figures. Albemarle assessments are falling 1.24% and in Charlottesville assessed values have fallen 0.14%. Remember that this is on average and may vary among individual homes or neighborhoods. As reported on NBC29, Albemarle County Assessor Bob Willingham states that "It shows that Albemarle is a fairly stable county," he explained. "We are bouncing along the bottom of the downturn in values. Last year we were down about 3.18 percent."
Just because your assessment has dropped your taxes will not necessarily drop. The city and county have not set their tax rates yet for the year.
As a home owner, if tax rates do not go up, this will mean a slightly lower tax bill. However if you are selling your Charlottesville, VA / Albemarle County home, a drop in assessments is not necessarily a good thing. Buyers often look at assessed value before they decide what to offer for a home. They will see a drop in assessment as a decline in markeet value.
So the good news is the fact that Charlottesville and Albemarle County are not seeing a signigicant drop in assessed values.
