As part of a vote to authorize a grant program to assist some homeowners with real property tax relief, Charlottesville City Council on May 18 got an official report on the 2026 assessments.
“Total taxable property increased from $11,767,301,300 to $12,205,639,500 which represents a total assessed value increase of $438,338,200 or 3.73 percent,” reads a letter from City Assessor David Milton.
The city has published the land book for 2026 which states the value of every parcel in the city.
Since 2016, the city’s total taxable value has increased over 104 percent from $5.945 billion to over $12.16 billion.
During that period, land values increased 121.58 percent and improvement values jumped 97.91 percent.
The city’s general fund budget has also increased during that time but at a smaller percentage of 69.61 percent. The FY2016 budget was nearly $156.4 million compared to nearly $265.25 in the current fiscal year.
The adopted FY2027 budget is $280,553,920 and is based on a one-cent increase in the real property tax rate.
As for revenue sharing, Charlottesville received $16,058,668 from Albemarle County in FY2016. For FY2027 that amount is $21,880,000.
Before you go: The goal of Town Crier Productions is to increase awareness about what is happening at the local, regional, state, and federal government levels. Please share the work with others if you want people to know things. Paid subscribers cover the cost of conducting research for this article which was originally published in the May 18, 2026 edition of Charlottesville Community Engagement. You can either subscribe through Substack or make a charitable contribution.
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