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City assessor outlines 3.76% overall reassessment; median residential value rises about $13,200
Summary
City Assessor John Fountain and appraisal supervisors presented the FY26 reassessment numbers: overall proposed increase 3.76%; residential parcels make up about 59% of total value; median residential assessed value rose from $259,100 to $272,300. Informal hearings are scheduled April 14–18.
City Assessor John Fountain and appraisal supervisors Mark Beasley and Mike Edwards briefed the City Council on April 8 on the fiscal 2026 reassessment and how residents can appeal their new valuations.
Fountain told council that "reassessment is required by Virginia state law, and the Code of Virginia mandates assessments be made at fair market value." He said the overall proposed reassessment represents an increase of 3.76% citywide, with residential parcels making up roughly 59% of the total taxable value and commercial…
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