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Mathews property values drop 3.2 percent following reassessment

Real estate assessors have completed their assessment of property in Mathews County, and supervisors learned on Tuesday that the value of property in the county has dropped an overall 3.2 percent since the last reassessment, in 2010.

Mathews County Administrator Mindy Conner told the board in an e-mail correcting information she shared during the meeting that the total value of all property in the county in 2015, according to the county’s audited financial reports, was $1,679,904,435. This year, she said, that total figure is $1,625,082,100, a difference of $54,822,353.

If the current real estate tax rate of 54 cents per $100 of assessed value is maintained next year, said Conner in the e-mail, the county can expect a decline in real estate tax revenue of $604,337. Conner said she is not prepared to make a statement about the impact this would have on tax rates because the figures are preliminary, but that this amount represents 3.5 cents on real estate in terms of the current ...

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