January 31, 2007
The City of Charlottesville has released its assessments on real estate for 2007.
Taxable real property values in Charlottesville increased by 14.3%. New construction, or improvements to property accounted for 1% of that increase. Officials said inflation, or appreciation on property accounted for the remainder of the increase.
The city said the rates prove the city is a desirable place to live and work.
Assessment notices are being mailed out to all property owners in Charlottesville this week.