February 28, 2011 – (RealEstateRama) — The Hampton Office of the Assessor of Real Estate has assessed all real property in the City of Hampton based on the fair market value as of January 1, 2011. The total taxable value of all property is $11,022,740,100 (down 1.7 percent from FY2011).
The amount of change in taxable value varied by category:
- Residential: down 2.7%, to $7,978,564,700
- Commercial: up 1.7%, to $2,110,730,600
- Apartments: down 0.27%, to $933,444,800
This week the Office of the Assessor of Real Estate is mailing change in assessment notices to the owners of 24,484 properties in the city. The assessed values are effective for FY2012 as of July 1, 2011 with tax payments due December 5, 2011 and June 5, 2012. Hampton property owners whose property assessments remained the same will not receive a change in assessment notice.
State-licensed appraisers in the Office of the Assessor of Real Estate analyze sales and assessment-sales ratios in order to determine whether a property assessment should be increased, reduced or remain the same. The appraisers analyze properties by assessment areas, which are based on common land uses, type and age of buildings, value range, and other locational characteristics.
Property owners wishing to appeal their property assessment may file a review of assessment application (deadline to file is April 1, 2011). Forms are available online at www.hampton.gov/assessor, at the Office of the Assessor of Real Estate, or can be requested by telephone at 727-8311. Property owners dissatisfied with the outcome of their appeal to the Office of the Assessor of Real Estate may file an appeal to the Board of Review, a five-member citizen board appointed by City Council. The deadline to file a Board of Review application is May 1, 2011. All applications to the Board of Review will be heard and considered by June 30, 2011.
The City of Hampton offers tax relief, tax freezes or tax deferrals to homeowners who are at least 65 years of age or permanently and totally disabled and meet certain income and net worth requirements. Citizens are encouraged to contact the Commissioner of the Revenue at 727-6690 for more information on this program.
The City also offers a land use assessment program which offers tax deferrals for land used for qualifying agricultural and horticultural purposes. Reduced real estate taxation may also apply to properties with conservation and preservation easements. Citizens are asked to contact the Office of the Assessor of Real Estate at 727-8311 for more information on this program.
Marketing INC, the City of Hampton’s marketing and communications division, provides citizens and employees with comprehensive updates on strategic and quality of life initiatives, emergency planning, diversity education, and civic involvement. The department produces a number of citizens and employee related publications such as City Page, City Page Online, Hampton Notes and Hampton Happenings.
Media Contacts
City Manager’s Office
22 Lincoln Street
Hampton, VA 23669
Robin McCormick,
Communications Strategist, 728-3276
