February 1, 2006
Charlottesville residents are surprised to find out their assessments have increased 15 percent to 20 percent. The value of real estate in Charlottesville has gone up by 16 percent in 2005, which is similar to other cities across the state.
"Typically across Virginia assessments have been going up anywhere between 10 and 40 percent. Ours is on average of about where everybody else has been over the past couple of years," said Ric Barrick.
The city is in the process of mailing out the notices to over 14,000 property owners. There is some relief for city residents if they apply for the city's real estate tax and rent relief programs.
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