YORK COUNTY, Va. — The bi-annual real estate assessments came out for 2024, and some York County residents told News 3 they're in disbelief over the increase.
“I expected an increase, no doubt, but when I saw that number I was blown away,” said resident Dan Clark. "There’s no other way to put it."
Clark's property value increased 40% from 2022 to 2024. His home was valued at $270,000 in 2022, and has jumped up to more than $378,000 in 2024.
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“What we are looking at is really a delayed reaction from the real estate market, the property values went up, they increased a lot, and we’re now seeing the tax assessments catch up with that,” said realtor Kaera Mims.
Mims said there are a couple positives of having a high assessment, including the benefit to local infrastructure.
"When we are looking at road maintenance, we’re looking at libraries, at lot of things that we enjoy every day this allows there to be more money in that budget to address those items,” said Mims.
She also said if you're looking to sell, now is the time.
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“With increased property value, that gives them more equity than they would have seen in years past,” said Mims.
However some residents are have no intention of selling —like Clark. He said instead, he's just feeling the impact in his wallet.
“It raises the taxes, but it raises my monthly budget too, my housing payment to have a roof over my head,” said Clark.
There is an appeals process if you don't agree with your assessment. More information can be found here.
