If you own property in Chesapeake, you’ll be happy to know that the Chesapeake Office of the Real Estate Assessor recently earned a very prestigious certificate that fewer than 50 localities in all of North America have earned. The Certificate of Excellence in Assessment Administration recognizes real estate assessor offices that consistently exceed guidelines and recommendations for how they do business.
The Real Estate Assessor has an important job in our City. Using fair market value, they determine the value of your property, including both the land and any structures on the land (also called “improvements”). That value is then multiplied by the tax rate to get the amount of real estate tax you’ll be responsible for. City Council determines the tax rate based on the amount of revenue needed to provide the many services we offer to our citizens. The City Treasurer is then responsible for collecting the taxes.
If you’re interested in learning more, there’s a lot of information available on the Real Estate Assessor’s webpage on CityofChesapeake.net. You can even look up your property and check its current value. If you have any questions, give them a call at 757-382-6235.