Most Fredericksburg Residents Will See Higher Property Taxes | Local News
Most residential property owners in Fredericksburg can expect to see an increase in their next tax bill.
City Council unanimously approved changing the property tax rate for the second half of fiscal year 2021 from 85 cents for every $100 of assessed value to 80 cents. The change follows the general reassessment of the property which had to be postponed from earlier this year due to health risks associated with the coronavirus pandemic.
Lower rates will not be enough to offset rising property values for most residential properties.
The preliminary reassessment for the second half of fiscal year 2021 resulted in an increase of almost 18% for owners in the city’s suburbs. For those who own residential property within the city’s urban footprint, the revaluation resulted in an increase of almost 17%.
Council members responded to calls about reassessments and urged residents to appeal if they disagree with their property’s new values.
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“Even though we do an equalization rate for the overall end result, if you live in housing [property] you’re most likely going to get a substantial increase in your tax bill,” Councilman Billy Withers said. “Understand that the reason is that residential has grown much, much more than some of the other categories.”
Commercial property values increased by 1%. Multi-family units increased in value by 4%.
Anyone with a grievance can contact the City assessor and make an appointment. If they are still not satisfied, they can lodge an appeal with the Equalization Commission, which will meet at the end of winter or at the beginning of spring. Complaints can also be taken to court.
Council voted unanimously in April to delay the effective date for general property assessment notices from July 1 to January 1, 2021.
Councilman Matt Kelly said despite the expected rise in residential property tax bills, city staff have done their best to come up with a fair rate for the second half of the fiscal year.
“We were talking a little bit of doom here,” Kelly said. “I just want to point out that the staff did what the board asked for and that this comes as close to an equalized rate as possible. They took the time to review all of this information and make a change to bring it back to this rate.
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