Nelson County preliminary reassessment shows 26.6% rise in property values; staff outlines tax-rate options

County staff on Jan. 13 told the Nelson County Board of Supervisors that preliminary results from the 2026 real property reassessment show an overall increase in assessed values of roughly $1,063,361,200 — a 26.6% rise from 2025 — and an adjusted taxable-value increase of about $1,022,402,100 (a 31.5% change).

County Administrator Candice W. McGarry, presenting the assessor’s hearing results, said the taxable values after hearings total $4,265,402,098 and that, at the current tax rate of $0.65 per $100 of assessed value, the equivalent tax levy would rise by $6,645,614. McGarry said staff analysis indicates an equalizing tax rate of about $0.495 per $100 of value would generate roughly the same revenue as 2025.

McGarry cautioned that individual property tax changes will vary and that the presented figures reflect values after assessor hearings but before the Board of Equalization reviews. She also explained the timing constraints for setting calendar-year tax rates and the budget process: rates must be advertised and considered at a public hearing (targeted for the Board’s April meeting) and must be set by statutory deadlines in mid-May.

Supervisors discussed the fiscal implications and next steps. Supervisor J. David Parr asked about reassessment costs; McGarry said the reassessment contract is $409,500. Supervisor Jesse N. Rutherford reiterated that retaining some revenue in reassessment years is a common practice for rural localities to smooth multi-year funding needs, while other supervisors emphasized minimizing rate increases for homeowners.

Staff will present tax-rate scenarios and CIP/debt-capacity updates at upcoming meetings before the board sets a rate for public hearing.