News Releases

Posted on: March 4, 2016

Real estate assessment breakdown shows average increase of existing residential properties at .30%

Chart1.jpg

Further breakdown of the County real estate assessments of existing residential properties shows an average increase of .30% for fiscal year 2017 and FY 2018. Approximately 16,300 properties changed in value with 11,063 increasing and 4,803 decreasing in value with 15,860 existing properties showing no change from the 2014 assessment.


New properties, defined as those that received a Certificate of Occupancy since July 1, 2015, went up on average by .59%. There are 566 identified as new County properties.


The bulk of increases come from commercial assessments with 288 properties increasing, 1,072 with no change and 101 seeing a decrease. The average increase for all commercial properties assessed is 3.2%


Combining all assessments, including existing, new and commercial properties reveals an average of 1.43% increase in tax assessments.


The inserted charts gives a breakdown of County-wide assessments for FY 2017 and 2018.


Residential (existing)

Assessment Changes Parcels 
 Parcels with increase 11,063
 Parcels with no change
 15,860
 Parcels with decrease
 4,803
 Total
 31,726


Residential (new construction)

Assessment Changes Parcels 
 Parcels with increase 566
 Total
 
 566

Commercial parcels

Assessment Changes Parcels 
 Parcels with increase 228
 Parcels with no change
 1,072
 Parcels with decrease
 101
 Total
 
 1,461


Real Estate Assessment


Real Estate Assessment

Assessed Value Change


Assessed Value Change
Residential Increases - 33%
 
Residential No Change - 48%
 
Residential Decreases - 15%
Commercial Increases - 1%
Commercial No Change - 3%
Commercial Decreases - less than 1%
Residential - $28,052,500
 Commercial - $68,273,800



Media Contact: Jon Fountain

Director, Real Estate Assessments

jon.fountain@jamescitycountyva.gov

253-6761

Real Estate Assessments Division
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