The release of Charlottesville’s property tax assessment for 2022 have given budget staff a clearer picture of how much additional tax revenue will come in due to the assessments. That will provide more clarity on a potential increase in the real estate tax rate to cover a capital improvement program that will include $75 million for school reconfiguration, more funding for affordable housing, and other increases that have been sanctioned by the most recent City Council prior to this one.
Before we go too far with that, a subcommittee of the House of Delegates’ Finance Committee has recommended denial of a bill from Delegate Sally Hudson (D-57) that would allow Charlottesville to hold a referendum on a one-percent sales tax increase. (HB545) They also recommended “laying on the table” for another bill that would have allowed all localities to do so (HB531). Both votes were on party lines. More General Assembly updates in a moment.
The annual reassessment of property in Charlottesville is complete, and over 95 percent of residential property increased this year. In all, there are 15,164 taxable parcels in the city, and the overall increase for 2022 is 10.77 percent.
The overall average increase for residential property is 11.69 percent, with only 1.37 percent decreasing in value and 2.77 percent staying the same.
Weldon Cooper releases population estimates
The communities that make up the Thomas Jefferson Planning District have grown by an average of 12.8 percent since the 2010 Census according to the latest population estimates from the Weldon Cooper Center at the University of Virginia. This time around they are making an adjustment based on what they see as an undercount in the 2020 U.S. Census.
“Localities with relatively large college populations, including some Virginia localities, were often undercounted in the April 1st, 2020 Census Count,” reads a disclaimer on the website. “We have benchmarked the 2020 and 2021 population estimates on the Weldon Cooper Center estimates instead of the 2020 Census count for localities with populations that are comprised of over 20 percent college students.”