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)
| Parcels with increase | 11,063
|
Parcels with no change
| 15,860
|
Parcels with decrease
| 4,803
|
Total
| 31,726
|
Residential (new construction)
| Parcels with increase | 566
|
Total
| 566
|
Commercial parcels
| Parcels with increase | 228
|
Parcels with no change
| 1,072
|
Parcels with decrease
| 101
|
Total
| 1,461
|
Real Estate Assessment
| 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