This website is for the express purpose of providing Hanover County, VA residents with information they may need to determine if they should appeal their 2010 real estate tax assessment. This is NOT a Hanover County Goverement website. You can contact Hanover County Assessors office at (804)365-6029

Friday, January 1, 2010

2010 R.E. Assessment ~ Fact Check

On December 10th, Richmond Times Dispatch published this article, in which, Hanover County Assessor John Nelms reveals that property values are down. However, Mr. Nelms numbers don't add up.

Hanover County real estate has lost nearly $200 million in value since last year, supervisors learned yesterday from the county's chief assessor, John W. Nelms Jr.

The overall decrease of 1.5 percent in value represents a nearly $195 million decline in residential real estate and a $2.8 million decline in commercial real estate, Nelms said. Assessments were calculated based on sales through the end of October, he said. Values changed on about 10,500 parcels, most of them in the central to eastern part of the county between Ashland and Mechanicsville.

sold in the county also is down, from $347,400 in 2008 to $271,200 in the most recent report, he said. That figure doesn't necessarily indicate a decline in the value of any specific property, however.
The average price of homes sold is down from $347,400 in 2008 to $271,200" in 2009. That equals a 22% drop in value, not a 1.5% decrease.

Next week all Hanover County Property Owners will be receiving their Real Estate Assessment. Even if your assessment stayed the same, you need to consider appealling your assessment.

Here is an overview of Hanover County Real Estate Values from city-data.com.

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Please join us on Thursday January 7th @ Bass Pro Shop in Ashland. We will have informed citizens explain why and how to appeal you RE tax assessment.