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way,” Mr. Parrish affirmed.
He also noted that the law requires a house lot to be broken out from the balance of a large tract and its value figured separately. Generally, the house lots have been appraised at $8,000 with the assessment running to $10,000 if road access or location makes the property particularly desirable.
“I’d say we’re as close as you’re going to get,” maintained CoL Luke. As evidence, he cited several appraisals done recently by private firms which fall within $1,000 either side of values set by Mr. Chadwell and the board.
Looking at the county as a whole, there is no discernible difference in percentage increases between the various magisterial districts, according to the board members. The only variation comes in Washington.
After years of holding fairly steady in value, forest land shows a significant percentage increase, the assessors noted. They attributed this to a growing demand from “D. C. people” for wooded hillside lots, adding that this development is also reflected in sales figures.
“Sales figures” and “fair market value”: Mr. Chadwell and the members of the assessment board prefaced every explanation with those two phrases. “And if you don’t believe that market values and sales prices are up, check the deed transactions in the Rappahannock News every week.” Col. Luke suggested.
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