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County staff outlines pros and cons of moving from four-year reassessments to more frequent schedule
Summary
Staff presented options to move Montgomery County from a four-year real estate reassessment cycle to biennial or annual reassessments, describing equity benefits, transition timeline and staffing implications; a public hearing is set for Jan. 27, 2025.
County staff presented a detailed review on Jan. 13 of real estate reassessment frequency options, comparing the current four-year cycle with biennial and annual reassessments and outlining administrative and budget implications.
Miss Hill, county staff responsible for assessments, told supervisors that Virginia code currently permits counties of Montgomery's size to reassess on a four-year cycle and that the county's 2023 reassessment produced just under a 30% increase in assessed values. That sharp increase prompted the board to ask staff to examine other frequencies and to prepare for…
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