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City assessor: notices for FY27 reassessment to mail Jan. 21; preliminary figures show about 14% increase
Summary
Petersburg’s assessor told council roughly 14,000 reassessment notices will mail Jan. 21 and preliminary data indicate around a 14% average increase in assessed values; informal review is Jan. 21–Mar. 1 and appeals go to the Board of Equalization then circuit court if needed.
The Petersburg city assessor briefed the City Council on the FY27 real-estate reassessment process during the Jan. 6 work session.
Miss Williams said state law requires reassessments to reflect fair-market value and explained the office’s methods, including sales recorded at Circuit Court, CoStar and MLS data and high-resolution EagleView imagery. She said about 14,000 reassessment notices will be mailed Jan. 21 and the assessor’s informal review period will run Jan. 21 through March 1; appeals can then be filed with the Board of Equalization and finally to circuit court if deadlines are missed.
Williams told council preliminary figures show assessments are up about 14% from the previous cycle; she said final figures would be available next week. She also described an FAQ page on the back of notices and a new GIS public portal that combines assessment, sales records and mapping to help property owners during appeals.
Council members discussed possible impacts to the tax rate. Mayor Perrin proposed using a one-cent ("nickel") adjustment as a starting point for discussion; other members suggested analyzing a 50% return of the increase to taxpayers, or calculating how much of the increase could be used to reduce the real-estate tax rate. The assessor and finance staff agreed to collaborate and return with dollar and percentage figures to help council set the FY27 tax rate.
Important dates Williams cited are Jan. 21 (mailing of notices), Jan. 21–Mar. 1 (informal review) and April 1 (appeal deadline to Board of Equalization). The assessor’s office said it will provide help with appeals at no cost and that citizens should contact the office or their mortgage provider about escrow changes if applicable.
The reassessment is biannual under state code and the assessor emphasized the office’s statutory duty to determine fair-market value for taxation purposes.
