County Administrator: Some homes up 40% in value
The Middlesex County Board of Supervisors (MCBS) agreed recently to send out a “request for proposal” (RFP) to hire a firm to conduct a reassessment of real estate. The RFP was posted May 7 and the submission deadline is June 13.
The counties of Middlesex, Mathews and King & Queen (K&Q) are partnering together to hire a firm to do the reassessment. It has been four years since the last reassessment and County Administrator Matt Walker said at a recent meeting that sales of some residential homes in the county reflect a 40% increase in value.
At the board’s May 6 meeting, supervisors voiced concern over losing tax revenues because real estate values are increasing rapidly between the years of each reassessment.
The increased real estate revenues, however, have to offset the cost of the reassessment. Walker indicated there have been discussions on hiring a regional in-house staff to do annual reassessments. Some larger counties reassess every year with their own staff…
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