2013 Charlottesville Real Estate Assessments will be released by the end of January. This is if history is a guide as the Albemarle County Assessors office told me when I called to get a specific date, that it would be by the end of the month. There are two areas that have the greatest impact on Assessments in our area. The City of Charlottesville and Albemarle County, where Charlottesville is located.
2013 Charlottesville Real Estate Assessment
The City of Charlottesville says that the released assessments are “an estimate of fair market value as of January 1 each year, based on property sales for the previous calendar year” Here is the Charlottesville City Assessor website if you would like to read further on this subject.
2013 Albemarle County Real Estate Assessment
Albemarle County, says it slightly differently, stating that “The County of Albemarle appraises real estate every year based on fair market value as provided by the Virginia State Code”.
They continue to note that “The appraisal staff in conducting their field appraisal work considers adjacent property sales, condition of property, zoning stipulations, and other miscellaneous factors that could be an influence on the market value of the property” Here is the Albemarle County Real Estate Tax Website for further details and information.
Charlottesville Home Prices
Charlottesville Market Reports show that sales are increasing year over year, with Median Sales Prices up in the City of Charlottesville and up in Albemarle County too. Lets hope this trend continues.
There are a lot of factors that are included to get Median prices from our MLS so your actually numbers may not follow these trends. I suspect that 2013 Real Estate Assessments will be, for the most part, sightly up from 2012.
Charlottesville Real Estate Tax Rates
Our real estate tax rates are based on Assessments:
- City of Charlottesville is $.95 per $100 of Assessed value.
- Albemarle County is $.762 per $100 of Assessed value.
Charlottesville Home Buyer
Many Charlottesville Buyers look to Assessments as a means of valuing a home and in many cases this can be a mistake. Using them as a guide can make sense, but since the data is generated at a point in time prior to the January release the information is not timely enough.
Getting a current Market Analyses of a home from your Charlottesville Agent will give you a better idea of a homes true value.