The Middlesex County Board of Supervisors (MCBS) voted unanimously in August to authorize County Administrator Matt Walker to sign a contract hiring Cowan Services LLC to begin immediately to start a countywide reassessment.
The board voiced concern that the assessment could tax some people out of their homes. Walker informed the board that there is nothing in the state code to protect elderly or fixed income (retired) citizens from being taxed out of their homes. The assessment is anticipated to bring a 30% to 40% increase in real estate values since the last reassessment four years ago.
The issue is that “serious money” real estate buyers are moving into the Middle Peninsula and Northern Neck purchasing property way over current market values, said Walker. “This is pushing market values up countywide,” he said.
