COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

Annual Real Estate Reassessment Ordinance

 

 

SUBJECT/PROPOSAL/REQUEST:

Ordinance to amend County Code to establish an annual reassessment of real property

 

 

STAFF CONTACT(S):

Messrs. Tucker, Davis, Herrick, Wiggans, Woodzell; Ms. White

 

LEGAL REVIEW:   Yes

 

 

AGENDA DATE:

November 9, 2005

 

ACTION:     X                       INFORMATION:   

 

CONSENT AGENDA:

  ACTION:                            INFORMATION:   

 

 

ATTACHMENTS:   Yes

 

 

REVIEWED BY:

 


 

BACKGROUND: 

At its July 6, 2005 meeting, the Board discussed the merits of changing the County’s real property reassessment schedule from a biennial to an annual assessment.  The Board directed staff to prepare an ordinance for the Board’s consideration and to advertise a public hearing.

 

STRATEGIC PLAN:

4.2 Fund County services in a fair, efficient manner and provide needed County public facilities and infrastructure.

 

DISCUSSION:

Virginia Code § 58.1-3253(B) authorizes the county to adopt an ordinance providing for the annual assessment of real estate for local taxation.  The attached ordinance amends Albemarle County Code §§ 15-1000 and 15-1002 to implement an annual reassessment.

 

The ordinance provides that effective January 1, 2007, the Office of Real Estate Assessments would annually conduct a new assessment of all real property in the County for taxation purposes.  To accommodate the compressed schedule for an annual assessment process, the deadline for appeals to the Board of Equalization is moved from the end of March to March 15th.  All other aspects of the appeal process are unchanged.  The first annual reassessment would be for tax year 2007 effective January 1, 2007.

 

Executive summaries previously considered by the Board on December 3, 2003 and July 6, 2005 are attached for background information.

 

BUDGET IMPACT:

See prior executive summaries

 

RECOMMENDATIONS:

At the conclusion of the public hearing, if the Board of Supervisors supports a move to annual reassessment, staff recommends adoption of the attached ordinance to establish an annual reassessment of real property effective January 1, 2007.

 

ATTACHMENTS:

A – Draft ordinance

B – Executive summary from 12/3/03 Board meeting

C – Executive summary from 7/6/05 Board meeting
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