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said.
While it is those under-assessed structures and parcels that saw the biggest increase in the new appraisal, the worth of properties in general has gone up considerably, in keeping with fair market value as defined by sales, according to the assessment board.
“Some people will be surprised at how much the value of property in Rappai-; hannock has climbed . . . They should re£* member that this is the first reassessment in six years. The change in the property^ value doesn’t represent the difference b^s tween last year and this year but betweetC 1981 and 1987,” noted Mr. Parrish. “In sin; years, land values aren’t the only thing; that has gone up. So has the cost of build-' ing.”
In determining worth of land and* buildings, Mr. Chadwell followed guidelines set by the Board of Supervisor*; and looked at comparable sales to arrive at “fair market value. ”
“Our hands are tied to a certain degree,” said Mr. Chadwell. “By law, we. have to use sales figures.” The only trans-; actions excluded from consideration were family transfers and public auctions, he
(See ASSESSMENT, p. 18)
85.2%