February 2, 2008

Despite falling property assessments in surrounding counties and across the state, Charlottesville still saw an increase, likely meaning higher property taxes for homeowners. Some are confused as to why assessments continue to rise here .

"I was a little surprised that my recent assessment which I got in the mail did not reflect the dropping property values throughout the country
and I was a bit puzzled by that," said Charlottesville homeowner David Harrison.

"I wasn't surprised that assessments went up, I think that the assessor is in a tough task of trying to predict the market when they start their assessments, the assessment process in the middle of last year," said realtor Jim Duncan.

But the city assessor says it's more about analyzing month to month trends.

"No we don't have a crystal ball, so it's more of interpretation, than predicting," said city assessor Roosevelt Barbour, Jr.

Meanwhile other homeowners say this is good news.

"I think it's a great thing. It means I've made a great investment and I think real estate is the place to invest one's money and I think it's a good thing that values stay the same," said Charlottesville homeowner Paul Muhlberger.

Still, the increase was modest.

"In the last five, six years we've been double digit and this year we were 1.6 or 2.8 and it's because the market, we're getting closer to the market," said Barbour.

Barbour credits the University of Virginia and low interest rates for the increase, and while some may not agree with an assessment process that began months ago, Barbour says he believes the numbers hold true for today.

If you think your assessment is not at all accurate, you need to contact the city assessor's office by March 3rd to be eligible for a review. You can call 970-3136.