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Madison County reassessment raises property values; board to consider lower tax rate at April hearing
Summary
A county-contracted reassessment increased total real estate value from about $2.7 billion to $4.0 billion. County staff said state law limits reassessments to a six-year interval; the board will advertise an equalized tax rate and hold a public hearing in April.
Madison County supervisors heard a detailed update on a countywide reassessment that county staff said raised overall real estate values from about $2.7 billion to roughly $4.0 billion.
The reassessment, contracted to Wingate Appraisal Services, used recent sales data and field visits to set new fair-market values for parcels countywide, county staff told the board. The assessor’s office will accept informal appeals through March 5 and appeals to the Board of Equalization later this year, staff said.
The county’s reassessment last occurred in 2019; staff emphasized the current increase reflects a six‑year span, not a single year surge. “The overall average increase was 50% on all real estate,” a staff presenter said, and noted residential and other categories rose at differing rates. Staff also said corrected notices were mailed today to property owners in conservation easements after a systems error.
Why it matters: Under Virginia law the board must advertise an equalized tax rate that yields within roughly 1% of prior‑year revenue; the board may then propose a higher rate in separate budget hearings. County staff and supervisors told residents the reassessment itself does not directly raise taxes and that the board will set a new tax rate to reflect the updated values.
What the board said: Supervisors said they expect the advertised equalized rate to be lower than the current 74¢ per $100 of assessed value and that the board will hold a public information and equalization hearing on April 8. The board’s advertised budget and tax‑rate public hearing is planned for April 22 as part of the FY‑26 budget process.
Public reaction: Multiple residents spoke during public comment. Several older residents urged the board to consider property‑tax relief (not deferment) for fixed‑income seniors; one commenter said mailed notices labeled a “tax relief program for the elderly” when, in the county’s practice, only a deferment program exists.
Appeals and next steps: Staff said property owners may appeal their values through March 5 (phone or in‑person) and then to the Board of Equalization through the year; circuit‑court appeals remain available. Staff also posted reassessment documents and a FAQ on the county website and urged residents to make an appointment with assessors if they have questions.
The board scheduled outreach and will provide more details on advertised rates and upcoming hearings on county web pages and at public meetings.
