Staunton has completed its 2017 general real estate reassessment, which went into effect on January 1.
The current assessed value of all real property in the City is now $2.27 billion, which is up 2.26 percent over last year.
Taxable real property increased in value by 2.81 percent to $1.86 billion, representing an increase of $50.7 million in taxable real property.
The city assessor values approximately 11,500 real estate parcels in the City. All real estate in the City of Staunton is reassessed every two years in the odd-numbered years, as required by the state code. The value of new construction or renovation work is added every year.
Reassessment notices were mailed to residents on January 30.
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