Real estate tax assessments to rise
Real estate tax assessment notices are due to arrive in city mailboxes tomorrow and Thursday. Two unnamed City Council members who have been briefed by Richmond tax assessor Richie McKeithen say assessments could rise between 20 percent and 40 percent for some homes in the city’s 3rd, 4th, 6th, 7th and 8th council districts. Some of the assessments are expected to jump so high that City Council members are already talking about a tax rate cut to cushion the blow.
[ from the RTD ]
Channel 6: ‘A Taxing Situation’
Channel 12: ‘Wider to propose lowering city’s property tax rate’
This assessment rose 200 % and it is not a house being renovated. No changes were made to this house last year.This assessment rose over 100%, again to an unchanged house.This assessment rose over 200%. Also to an unchanged house.
These new, higher values seem in-line with or even below market prices. I have to ask — why were these houses were under-assessed for so long? This kind of rapid jump is just going to be extra harsh on anyone on a tight budget, and lead to much outcry.
Channel 12: Re-assessed homes in Richmond may mean higher taxes for owners