Real estate tax bills may still increase

Real estate values have declined nationally, but for Albemarle County residents that doesn’t necessarily mean lower tax bills.

“A lot of people are obviously going to look at their tax bills and feel that: ‘Geez, the market’s gone down, or changed. My assessment doesn’t reflect the market now,’” said County Assessor Bob Willingham. “But they have to realize that … the assessments are based on Jan. 1.”

The county mailed 39,000 real estate tax bills about two weeks ago and 68,000 personal property tax bills last week. All residents should have received those bills by now, said Joseph Correa, division manager of revenue and taxation.

Real estate is taxed at 71 cents per $100 of assessed value. Payments are due Dec. 5.

Overall, assessed values on both commercial and residential properties rose slightly this year, with an average increase of .14 percent over 2007.

Albemarle County assesses real estate values annually, unlike many other localities that use two-year assessment periods. The most recent assessment figures for Albemarle were released in January.

The county is about two-thirds through completing its 2009 assessments, with figures expected to be released in January, Willingham said. It’s too early to say what the average change in real estate assessments for 2009 will be, he said. 

The number of applications has increased for a financially based county tax relief program for residents at least 65 years old or permanently disabled. Last year, a little more than 500 people applied for the program, which grants relief of 20 to 100 percent, depending on annual income and net worth.

The maximum income a resident can have to benefit from the program increased to $69,452 this year, up from $50,000, Correa said. The net worth limitation increased to $200,000, up from $125,000. 

“The Board of Supervisors wanted to make it more accessible to people,” Correa said.

The deadline for filing applications for new land use tax benefits is Nov. 2, according to Lee Catlin, county spokesman. In addition to filing new applications for parcels qualifying for the first time, an application should also be submitted for changes in the use or acreage of land previously approved for land use tax.