Here’s what we know:- · Property assessments are the largest source of revenue for Suffolk.
- · In Suffolk, the average sales price for residential properties for 2009 is $244,200, which is $10,800 less than the 2008 average of $255,000.
- · The assessor has counted 315 foreclosed properties in the assessment, which the mayor indicates is not very much compared to other communities. We do not believe that the 255 foreclosed homes for 2008 were included in the calculations last year. This is significant since approximately 75% of the assessed values come from residential parcels.
- · When looking at residential sales, there is a 4.0% decrease in taxable values from the 2008 assessments to the 2009 assessments . This is the smallest percent decrease for cities including Chesapeake (-6.30%), Virginia Beach (-5.75%), Norfolk (-4.90%), Portsmouth (-4.38%).
We've got a number of Inside Suffolk team members who will be bringing their analytical and commonsense thinking to the blog. Stay tuned for more!
3 comments:
Don't expect honesty, assessments are the life blood of the Suffolk "Pay-ola" and will not be changed without a lot of crying from those who spend our money so selfishly. The only way to survive this debacle is to fight back as hard as you can.
I will se you all at the Board of Equalization and the Circuit Court! Time to take Suffolk back!
Ahh - It's a council election year and assessments could once again be a big issue. It never fails.
Well, I got my assessment notices in the mail on Saturday. They went up by about 3% and I can not for the life of me, figure out how that could happen in this market. I have had my home on the market for over ten months with only two really low-ball offers for the effort. Now the imbicils downton tell me that my home is actually worth even more and will demand that I pay more taxes! To say the least this c#*p is driving me crazy!
I want to know how they do this to people who have lsot their jobs and are in a hard way? Then my neighbor went to the staged School meetings and is now calling for even more spending. I think I will punch her in the nose.
Things are tough and these notices on taxes just makes it worse. If I could sell the trap of a home I am in I would. Want to buy it Councilman BROWN? I would sell it to Councilman PARR, but he would try to cheat me out of it!
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