New Assessments for James City County

Assessments Completed & Mailed

HomeRepairThe Real Estate Assessment Division recently completed the assessment of all real property located in James City County (JCC), as based on the fair market value of the property as of Jan. 1, 2014.

The new assessments show that the drop in home values over the last few years has slowed to a loss of 1.71 percent in 2014 compared to a loss of 5.67 percent in 2012.  When combined with new development and commercial reassessment, the assessments generated an overall increase of .24 percent.

The County will mail the change-in-assessment notices to approximately 14,500 property owners on Feb. 28, 2014.  Information on the review and appeal process, and the tax relief program can be found online or by calling 757-253-6650.  You can visit JCC’s Property Information website as well, to preview the new assessments.

When it comes to real estate, there can be unique perspectives and differing opinions of value — mine, an assessor’s, an appraiser’s, and even yours.

I’ve found that we may approach home values from different viewpoints, time frames and data points. For example, an appraiser looks at where a market has been when determining property value. I do, too, but I also look at where the market is now — and where it may heading as a result of housing inventory and buyer preferences. Supply, demand, recent sales, new construction, and housing trends all directly impact today’s home prices and my comparative analysis for your home.

JCC residents… what do you think about your new assessment?  Let me know!

TammyIconTransparent

 

Tammy Thrift, Realtor

Serving Your Real Estate Needs, From Colonial Williamsburg To The Chesapeake Bay!

Actively licensed with Long & Foster in the Commonwealth of Virginia (USA)

Written by