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New Charlottesville & Albemarle County 2009 Assessments Released

By
Real Estate Agent with Gayle Harvey Real Estate, Inc.

Charlottesville, Virginia and Albemarle County released their new real estate assessment figures yesterday.  Given the slow real estate market and the problems face by the economy, it should come as no surprise that those values have not performed as they have in the past.  According to The Daily Progress the average values for existing homes in the city of Charlottesville have only increased 1.69% and in Albemarle County the assessment values have actually dropped 2.59%. 

It is important to realize that these figures are averages and that there were also some significant differences in these figures by area within these localities. 

For instance values in the Fifeville neighborhood increased by 11% which was the largest increase in the city, but values ranged down to a 7% decrease in Melbourne.  Over all in the city existing home prices increased an average of 1.02% and commercial property increased 3.02 percent.

In the county we saw the largest decline in Condominiums with -7.7%.  Homes with 2-5 acre lots dropped 3.3% and homes with lots under 2 acres dropped 5.3%.  Commercial property increased 1.59%.

Read the article on Albemarle County assessments.

Read the article on Charlottesville, Virginia assessments.

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Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at  434 960-0161 , pam@JumpintoGreenerPastures.com, to list your property for sale or to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my website  Jump into Greener Pastures or read my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville homes, events and real estate.

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Comments (2)

Anonymous
Publius

Why is it that the City Assessor lives in the *County*?  Is it perhaps because the tax rate is lower there?

Apr 08, 2009 02:49 PM
#1
Pam Dent
Gayle Harvey Real Estate, Inc. - Charlottesville, VA
REALTOR® - Charlottesville Virginia Homes / Horse

I did not realize that the city assessor lives in the county, but it is true that there is a significant difference in the tax rate between the two.

Apr 13, 2009 02:17 PM