Dropping dropping dropping
Assessments are dropping like dead flies on a summer day in every city in hampton roads. This is a great for those of us who plan on never moving. For the poor souls who need to sell this could be a fatal blow to the sale.
Chesapeake values have declined by 3.8%. This is the 4th straight year in a row theses declines have happened the assessment year of 2009-2010 it had dropped 5.5%.
The good news for Chesapeake the city manager said there will not recommend a tax rate increase to make up to for the lost revenue
Some areas did get an increase in value areas like Plantation lakes and Western Branch subdivisions.
Foreclosure decrease from 1003 to 772
Average home price $338,27.00 for a new home & $284,195.00 for an existing home