By Linda Cicoira
Accomack County will conduct its biennial reassessments of real estate in 2024 for use in calculating tax bills. And it seems certain there will be increases in those values, leaders were told Wednesday.
A study of 2,200 real estate sales in 2022 and 2023 showed county assessments are at 79 percent of fair market value despite that the state requires assessments to be at 90 to 100 percent. The inquiry looked at market neighborhoods, by tax district, and by state class code.
County supervisors were warned that dipping at 70 percent or lower on assessments could result in the state withholding the county’s share of ABC taxes or lowering taxes from utilities.
“Assessments have increased, no doubt about it,” said Chairman Robert Crockett.
“The board of supervisors has no power to adjust assessments,” County Attorney Jan Proctor said.
Notices of assessment changes will be sent to landowners, County Administrator Mike Mason reported. Public hearings and informal appeals will be offered. Those who are dissatisfied will also be able to appeal to the local board of equalization or the circuit court.
In 2022, assessments rose in Chincoteague, Onancock, and Captain’s Cove. “This time it’s more uniform” across the county, Mason added.
There are approximately 39,000 parcels in Accomack.