Assessor reports 6.54% net rise in Chesterfield taxable values; appeal window Feb.1–March 15

Chesterfield County’s assessor presented the 2025 real estate assessment summary to the Board of Supervisors, reporting a countywide increase in assessed value and outlining the appeal process for property owners.

The presentation matters because reassessment affects property tax bills and planning for the county budget; officials said notices were being mailed and that the formal appeal period runs Feb. 1 through March 15.

Mel Bloomfield, presenting the assessment update, said he instructed staff “to have a target ratio assessment to sell ratio of 9.93,” and explained that “if a property sold for $100,000 the assessment will be set at 93,000 of that.” He reported a countywide increase in assessed value from 2024 to 2025 of $4,100,000,000 and gave a total taxable land book change described in the presentation as $65,100,000,000.

Bloomfield said the overall percentage increase in assessed value from 2024 to 2025 was 6.54 percent, with residential reevaluation contributing about 5.01 percent and commercial/industrial revaluation about 1.53 percent (figures presented by category in the slide deck). He told the board the assessment process produced a coefficient of dispersion (COD) of 5.81, which he said is within standards for equitable assessments.

Bloomfield also described new-construction growth added to the tax base: presenters cited approximately $911,000,000 in new construction growth this assessment cycle, with roughly 77 percent of that amount attributed to residential new construction and the remainder to commercial and industrial projects. Bloomfield said residential new construction applications were running near 1,800 units for the year.

The assessor referenced several asset-class trends: apartments increased by 4.61 percent (mostly new construction coming online), industrial-condo values were up about 20 percent and flex/warehouse space up about 16 percent; hotel/motel assessments have largely stabilized after COVID-era declines. Bloomfield noted Richmond-area market context: the Richmond Association of Realtors reported a 7.7 percent increase in median sale price from Q3 2023 to Q3 2024; the assessor said his residential revaluation (about 5.01 percent) is below that headline realtor figure.

Bloomfield said assessment notices began mailing the day before and would be posted online the next day, and he reminded residents that the appeal period runs Feb. 1 through March 15. Board members emphasized the appeal process and noted programs available for residents on fixed incomes.

Ending: The assessor and board agreed to publicize the appeal timeline and to provide access to parcel-level data on the county website; no formal changes to assessment methodology or tax rates were made during the meeting segment.