Mathews County Commissioner of the Revenue Les Hall has clarified some issues regarding the recent real estate reassessment, which shows that overall property values have increased by 37 percent since the last reassessment was completed six years ago.
His clarifications come ahead of a public hearing on the reassessment and proposed real estate tax rate, which will be held at 6 p.m. next Thursday, March 30, in the Harry M. Ward Auditorium at Mathews High School.
While an increase in value of 37 percent might cause people to worry that the county will be collecting 37 percent more in taxes from property owners, Hall said that’s not how it works. He explained that the Code of Virginia restricts how much a locality can benefit from the increase in property values after a reassessment to no more than 1 percent. If the increase exceeds that, he said, the locality must reduce the rate charged the residents or else hold a public hearing on a proposed tax increase.
Mathews County’s current rea...