 |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Assessments decline 2% for existing homes
"Overall, re-vals were down 2 percent, and the trend was down at the end of 2008," said Jonathan Davis, director of the real estate assessor's office. "Homes selling above $500,000 have really lost value while homes selling for $250,000 or less generally gained in value," he added. Last month, a home assessed at $860,100 in upscale Chesdin Landing sold for $650,000. According to the Real Estate Assessor's Office, in order for the property tax revenue to remain neutral, the property tax rate would have to be raised by 2 cents to 97 cents per $100 of assessed value. The property tax rate decision will be made by the board in April, but a rate increase appears unlikely. Dale Supervisor Jim Holland opposes a rate increase. "I'm looking at where we can cut and finding greater efficiencies," he said. Midlothian Supervisor Dan Gecker said it was too early for him to decide. "I want to see what we have to cut first," he said The average price of a new home - including townhouses and condominiums - sold in 2008 was $381,280. Assessed values for 2009 are based on more current data: homes that sold from January 2007-November 2008. Last year, for example, assessments were figured primarily off of sales in 2006. Chesterfield has 14 appraisers assigned to assess residential properties and five appraisers for commercial properties. There's good news and bad news for commercial assessments. Re-evaluations in this category saw 26.7 percent go up, 71.3 percent remain stable and just 2 percent decline. "Our models indicate a lag in values for commercial real estate next year because of the economy and layoffs," explained Davis. "By law, we have to reflect 100 percent of the full market value," continued Davis. To prove your property is assessed too high, you have to do more than say you feel it's too high. The process begins by calling the assessor's office at 748-1321. Ask to speak to the appraiser who processed your appraisal. You can also get an appeal application form, which has to be completed and returned by March 15. Generally, there are two ways to substantiate your case: contesting the accuracy of the data the assessor's office has on your house or the comparative values it used to arrive at the assessment value. After submitting the form, a county appraiser will review the property by conducting an on-site inspection. If the citizen is not satisfied, the case may be taken to the Board of Equalization by Apr. 15, a court-appointed panel of property owners. There, the property owner can argue his case or watch the board review his submittal. The final arbitrator is the circuit court. There are also partial tax exemptions for rehabilitated or renovated buildings and for commercial and industrial properties in an "enterprise zone." Call 796-7123 for information. Tax relief is available for seniors ages 65 and older and those permanently disabled if their annual household income is less than $52,000 and their net worth is less than $200,100. Net worth excludes a house and the first 10 acres of land. The maximum allowable relief is $2,000. For more information or applications, call 748-1281, e-mail cor@chesterfield.gov or visit www.chesterfield.gov/comrev. 2002-09 Assessments
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
