Dramatic rise in property values could fuel City Council initiatives
The Daily Progress Friday, February 03, 2017 at 10 p.m.
As most Charlottesville property owners are facing a de facto tax increase as a result of widespread increases in assessed residential and commercial property values, staff informed the City Council on Thursday that there’s a positive balance of nearly $2 million in the prospective budget for the upcoming fiscal year.
“We haven’t seen anything like this in a long time,” Assistant City Manager Leslie Beauregard said about the balance during a budget work session with the council Thursday.
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