Comments on: Citizens of Fluvanna– BEWARE! http://www.realestatezebra.com/citezens-of-fluvanna-beware Your Comprehensive Resource for Creative Insight and Commentary on All Things Real Estate Mon, 06 Sep 2010 03:20:00 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Doug Hotz http://www.realestatezebra.com/citezens-of-fluvanna-beware/comment-page-1#comment-995 Doug Hotz Tue, 23 Jan 2007 20:28:56 +0000 http://realestatezebra.com/citezens-of-fluvanna-beware#comment-995 I am wondering if there is an upcoming hearing about the tax rate in Fluvanna. Isn't it common practice that the tax rate is reduced to reflect the increase in the assessment so your taxes are approximately the same? Please advise. I am wondering if there is an upcoming hearing about the tax rate in Fluvanna. Isn’t it common practice that the tax rate is reduced to reflect the increase in the assessment so your taxes are approximately the same? Please advise.

]]> By: Daniel Rothamel http://www.realestatezebra.com/citezens-of-fluvanna-beware/comment-page-1#comment-906 Daniel Rothamel Fri, 19 Jan 2007 17:07:08 +0000 http://realestatezebra.com/citezens-of-fluvanna-beware#comment-906 Stormy, The issue with the three years is that most people's increase seems to be in the 40% range. 40% over three years doesn't even SOUND right. While the appreciation was very good over the first two years, it was only around 5% on average for last year. I am going to post more stats soon, but in looking at the recent sales and their current assessments, it would appear that most of them are about 10% off. If you live in Albemarle, you are probably right on the money in expecting a 25% increase in your assessment. Of course, the sales data would support that. Thanks for offering another perspective on the situation. Stormy,

The issue with the three years is that most people’s increase seems to be in the 40% range. 40% over three years doesn’t even SOUND right. While the appreciation was very good over the first two years, it was only around 5% on average for last year. I am going to post more stats soon, but in looking at the recent sales and their current assessments, it would appear that most of them are about 10% off.

If you live in Albemarle, you are probably right on the money in expecting a 25% increase in your assessment. Of course, the sales data would support that.

Thanks for offering another perspective on the situation.

]]> By: Stormy http://www.realestatezebra.com/citezens-of-fluvanna-beware/comment-page-1#comment-902 Stormy Fri, 19 Jan 2007 14:03:31 +0000 http://realestatezebra.com/citezens-of-fluvanna-beware#comment-902 Daniel, in your initial post you wrote that assessments went out in early 2004. That would be 3 years ago. Here in Albemarle, we received assessments in 2005. I fully expect a 25% or so increase in my assessment over those two years, so 30% over three doesn't seem so bad. Of course, YMMV. Daniel, in your initial post you wrote that assessments went out in early 2004. That would be 3 years ago. Here in Albemarle, we received assessments in 2005. I fully expect a 25% or so increase in my assessment over those two years, so 30% over three doesn’t seem so bad. Of course, YMMV.

]]> By: The Tip of the Iceberg | The Real Estate Zebra http://www.realestatezebra.com/citezens-of-fluvanna-beware/comment-page-1#comment-884 The Tip of the Iceberg | The Real Estate Zebra Thu, 18 Jan 2007 20:20:11 +0000 http://realestatezebra.com/citezens-of-fluvanna-beware#comment-884 [...] The Fluvanna reassessments are out, and I can’t imagine that this is a fun week for the folks over at the Fluvanna County Commissioner of Revenue’s office.  I talked about this twice before, and now that the time is here, our phones at the office has been ringing and I have been getting emails from clients past and present about the assessment.  The most common question I am hearing from homeowners is, “can I really sell my house for that much?”  The simple answer is, “probably not.”  In just taking a quick glance at the December sales in Fluvanna and comparing them to the new assessments, it looks like about 95% of them sold for below their assessed value (in some cases, well below).  More on that in upcoming posts. . . [...] [...] The Fluvanna reassessments are out, and I can’t imagine that this is a fun week for the folks over at the Fluvanna County Commissioner of Revenue’s office.  I talked about this twice before, and now that the time is here, our phones at the office has been ringing and I have been getting emails from clients past and present about the assessment.  The most common question I am hearing from homeowners is, “can I really sell my house for that much?”  The simple answer is, “probably not.”  In just taking a quick glance at the December sales in Fluvanna and comparing them to the new assessments, it looks like about 95% of them sold for below their assessed value (in some cases, well below).  More on that in upcoming posts. . . [...]

]]> By: Jim Duncan http://www.realestatezebra.com/citezens-of-fluvanna-beware/comment-page-1#comment-198 Jim Duncan Fri, 01 Dec 2006 00:51:32 +0000 http://realestatezebra.com/citezens-of-fluvanna-beware#comment-198 Interesting. Thanks for the clarification. I was in a meeting the other day and was told that Fluvanna reassessed every four years. Guess they had it wrong. Thanks again, Interesting. Thanks for the clarification. I was in a meeting the other day and was told that Fluvanna reassessed every four years. Guess they had it wrong.

Thanks again,

]]> By: Daniel Rothamel http://www.realestatezebra.com/citezens-of-fluvanna-beware/comment-page-1#comment-197 Daniel Rothamel Thu, 30 Nov 2006 21:29:37 +0000 http://realestatezebra.com/citezens-of-fluvanna-beware#comment-197 Jim, The last assessment was done in 2005. 30% appreciation over that time would be pretty incredible. As I said in the post, for most properties, it just doesn't add up. The county doesn't do the assessments more often because the Commissioner of Revenue's office simply doesn't have the resources for it. The county already contracts the assessments out to an outside company, so doing them more often is probably out of the question right now. My issue is that I can't seem to get many answers from county officials. I contacted my Supervisor about this twice, but to no avail. I understand that the discussion is going to be had next year during budget time, but that may be a bit too late. As far as the mil rate goes, the county is going to have to establish a "revenue neutral" rate, regardless of what the assessment increase is. I haven't met many people who think that the rate will be lowered enough so as to be "revenue neutral." The county has plans for a new high school, and the pipeline, etc., and all of the upcoming projects are going to need funding. I also doubt very seriously that the county is going to just let the increase in assessments stand, and the mil rate will be lowered to some degree. The new rate will probably be on the lower end. My opinion is that if the assessments are above market value, any mil rate that is higher than "revenue neutral" would be inaccurate. I don't necessarily even have a problem with increasing the taxes to pay for some of the upcoming projects, I just feel that the process should be as accurate as possible. Jim,

The last assessment was done in 2005. 30% appreciation over that time would be pretty incredible. As I said in the post, for most properties, it just doesn’t add up. The county doesn’t do the assessments more often because the Commissioner of Revenue’s office simply doesn’t have the resources for it. The county already contracts the assessments out to an outside company, so doing them more often is probably out of the question right now.

My issue is that I can’t seem to get many answers from county officials. I contacted my Supervisor about this twice, but to no avail. I understand that the discussion is going to be had next year during budget time, but that may be a bit too late.

As far as the mil rate goes, the county is going to have to establish a “revenue neutral” rate, regardless of what the assessment increase is. I haven’t met many people who think that the rate will be lowered enough so as to be “revenue neutral.” The county has plans for a new high school, and the pipeline, etc., and all of the upcoming projects are going to need funding. I also doubt very seriously that the county is going to just let the increase in assessments stand, and the mil rate will be lowered to some degree. The new rate will probably be on the lower end. My opinion is that if the assessments are above market value, any mil rate that is higher than “revenue neutral” would be inaccurate. I don’t necessarily even have a problem with increasing the taxes to pay for some of the upcoming projects, I just feel that the process should be as accurate as possible.

]]> By: Jim Duncan http://www.realestatezebra.com/citezens-of-fluvanna-beware/comment-page-1#comment-195 Jim Duncan Wed, 29 Nov 2006 19:03:44 +0000 http://realestatezebra.com/citezens-of-fluvanna-beware#comment-195 Daniel - If Fluvanna reassesses every four years, a 30% appreciation over that time period does not seem that unreasonable. What about a move to get Fluvanna to assess their properties on an annual or biennial basis? That way the increase wouldn't be so dramatic. Have you spoken to anybody about whether they plan to lower the mil rate? Daniel -

If Fluvanna reassesses every four years, a 30% appreciation over that time period does not seem that unreasonable.

What about a move to get Fluvanna to assess their properties on an annual or biennial basis? That way the increase wouldn’t be so dramatic.

Have you spoken to anybody about whether they plan to lower the mil rate?

]]> By: Fluvanna Reassessment Still Looks Bleak | The Real Estate Zebra http://www.realestatezebra.com/citezens-of-fluvanna-beware/comment-page-1#comment-170 Fluvanna Reassessment Still Looks Bleak | The Real Estate Zebra Tue, 21 Nov 2006 17:13:38 +0000 http://realestatezebra.com/citezens-of-fluvanna-beware#comment-170 [...] About a month ago, I covered this in a post I wrote that attempted to show that increasing property assessments by even 30% would mean that the assessments would now be higher than market value. In light of the fact that with this latest story, Fluvanna seems to be preparing residents for a 40% average increase, I wanted to see how the data would shake out. [...] [...] About a month ago, I covered this in a post I wrote that attempted to show that increasing property assessments by even 30% would mean that the assessments would now be higher than market value. In light of the fact that with this latest story, Fluvanna seems to be preparing residents for a 40% average increase, I wanted to see how the data would shake out. [...]

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