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Real estate
values down
slightly in ’09
Cheaper properties take
bigger hit, assessors say
Bv Rogkr Piantadosi
Rappahannock News Staff Writer
Overall real estate market values declined slightly - but not consistently - m the current Rappahannock County property reassessment, the first since 2005
“It was no more than a five percent decrease,” county Commissioner of Revenue Beverly S. Atkins said yesterday of the total decrease in county property values. Her office mailed out assessment notices last week to owners of the county’s nearly 6.000 land parcels. By most accounts visits or calls to the courthouse by taxpayers seeking to change or question their assessments have been unusually light.
Five years ago. before the real estate bubble began shrinking, assessments rose nearly 80 percent overall, Atkins said The phones rang for weeks
The new assessments, combined with an adjusted tax rate per $100 of assessed value to be determined in the coming months by County Administrator John McCarthy, will determine property owners’ share of 2010 - county budget revenue.
Though the recession has driven property values downward everywhere, the head < »f
See VALUES, Page A6
63.7%