JCC Real Estate Assessments Improve for Residential, Commercial Properties

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This pie chart shows a breakdown of how many property values increased, decreased or remained the same following real estate assessments. (JCC)
This pie chart shows a breakdown of how many property values increased, decreased or remained the same following real estate assessments. (JCC)

Many James City County property owners will see an increase in their real estate taxes for fiscal years 2017 and 2018 due to improvements in real estate assessments.

Change-in-assessment notices were mailed Feb. 29 to the approximately 16,300 properties that will be affected.

According to the county, 11,063 residential properties increased in value and 4,803 decreased in value. Additionally, 15,860 existing residential properties showed no change from the 2014 assessment.

The average real estate assessment increase for existing residential properties is .30 percent for FY 2017 and FY 2018.

Assessments of commercial properties resulted in 288 properties increasing in value, 101 decreasing and 1,072 seeing no change. The average real estate assessment increase is 3.2 percent.

Values of all 566 new county properties, which are defined as those that received a Certificate of Occupancy since July 1, 2015, increased on average by .59 percent, according to the county.

Property owners in James City County pay 84 cents in real estate taxes per $100 of assessed value. This amount was approved by the JCC Board of Supervisors as part of the FY 2016 operating budget.

The new values will be in effect for fiscal 2017, which starts July 1 and concludes June 30, 2017, and for fiscal 2018, which runs from July 1, 2017 to June 30, 2018.

Properties values are appraised using current sales and assessment to sales ratios and are analyzed based on the characteristics of the property’s location, such as common land uses and the ages of buildings nearby, according to the county’s Real Estate Assessments division.

Property owners can have their assessment reviewed by calling 757-253-6650 between 8 a.m. to 5 p.m. now through March 30.

Owners who are not satisfied with the review may file an appeal in writing with the Board of Equalization. The deadline for filing an appeal is April 29.

Tax relief is available to homeowners who are 65 or older and those who are permanently and totally disabled. Property owners who want more information about tax relief programs can call the Commissioner of the Revenue at 757-253-6695 or click here.