James City County real estate assessments increased approximately 1.43% for Fiscal Year 2017 with .84% of the increase attributed to existing property and .59% to new development. Approximately 16,300 change-in-assessment notices were mailed on Feb. 29. Assessments are used to calculate a County property owner’s real estate taxes which is currently 84 cents per $100 of assessed value.
The Real Estate Assessment Division assessed all real property based on the fair market value of the property as of Jan. 1, 2016. The County conducts assessments biennially, and new values will be effective beginning July 1, 2016.
Property owners wishing to have their assessment reviewed should call 757-253-6650, Feb. 29 – March 30 8 a.m.-5 p.m. An appraiser will review the assessment to insure the property information is correct, and confirm that it represents fair market value and is equitable with other similar properties. Additional information regarding the assessment and review process can be found online here For information on the County’s real estate tax relief program for elderly and/or disabled citizens, please contact the Commissioner of the Revenue at 757-253-6695 or visit the Commissioner’s page. The program provides tax relief to homeowners who are 65 or older and those who are permanently and totally disabled if they meet certain income and financial worth qualifications. The Commissioner of the Revenue also administers the land use assessment program which provides for tax deferrals for qualifying forested and agricultural land. Reduced real estate taxation is also available to properties with conservation and preservation easements.
This post was authored by local REALTOR John Womeldorf, known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/Hampton Roads area and his expertise in the local real estate market. I would love to help you find your dream home in the area or sell your existing home! You can text or call me at 757-254-8136 or email John@MrWilliamsburg.com.
I look forward to serving your real estate needs!