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Hi Sean, not sure how best to conta t you; however, have you thought about doing a deep dive on how flawed the assessment process is in Cville? We have done some number comparisons as well as read citizen input on Nextdoor, and the City seems to have a lot of wrong calculations and funny math. Not sure how you can respond so that I will see an answer?

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Hello! I sent you an email. Anyone can reach me directly by responding to any of the emails in your inbox.

As for the process, I will be following the appeals process as it unfolds. The deadline to appeal this year's assessment is over, and I will be checking in with the city to see how many people filed an appeal. I will also be following the Board of Equalization process as that happens, and writing about those in advance. Hopefully after, but it's just me doing the work and I'm not able to get to everything I want.

I do track the property transactions in Charlottesville on an anecdotal basis, transaction by transactions. I can't offer an opinion on what any of that means as I am far from an expert. But I do state how much each transaction is over or under assessment. In 2021 there were some a lot sales prices that were way over the assessment, and that appears to be reflected in the 2022 assessments. But, every parcel is different.

By Virginia law, assessments need to be made at the fair market value of the price as determined by the assessor. The BOE meetings can be absolutely fascinating.

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Thanks for the response. I guess the rub of the matter, esp. in our real estate market, is how one determines what "fair" means, and "fair" to whom? It is certainly not fair to the home owner trying to stay in their home, nor is it "fair" that the market was falsely inflated when Cville was voted "number 1 place to live" by some magazine back around 2002. Many municipalities have programs to protect homeowners from such situations by only changing assessments when the house is sold or also having different tiers according to age, disability, or how long in one's house. Thanks again,

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Mar 15, 2022·edited Mar 15, 2022Author

In this case, you can't separate the word "fair" from "market" because it's "fair market."

Here is the definition of fair market on the city's website, as I quoted in the February property transactions.

"Market value is defined as the most probable price expressed in terms of money that a property would bring if exposed for sale on the open market. The sale should be an arms-length transaction between a willing seller and a willing buyer, both of whom are knowledgeable concerning all the uses to which the property is adapted and for which it is capable of being used."

What is written in a magazine does not have the power of the law.

Are any of those municipalities in Virginia?

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