Charlottesville assessments up average of 3.72 percent in 2026

City's real property tax base increases 45% over five years

Jan. 31, 2026 at 3:15pm

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Charlottesville's tax base grew by 3.72 percent in 2026, providing more clarity for what the city's FY27 budget may look like. The median assessed home price in Charlottesville rose 4% to $548,000, and the city's real property tax base increased from $8.42 billion in 2021 to $12.2 billion this year - a 45% increase over five years.

Why it matters

The increase in Charlottesville's tax base will give the city more revenue to work with as it develops its next budget. This is an important data point as the city grapples with rising costs and the need to fund various priorities, including affordable housing initiatives and infrastructure improvements.

The details

According to Charlottesville Assessor David Milton, residential properties increased in value by 4.2% and commercial properties saw a 2.14% increase over the previous year. The city's overall tax base grew by 3.72%, the second lowest increase in the past 10 years. Homeowners who disagree with their new assessment can appeal to the Board of Equalization.

  • Charlottesville City Council learned of the assessments at the beginning of a January 29 work session held on the budget.
  • City Manager Sam Sanders will present his recommended budget on March 2.

The players

David Milton

Charlottesville's city assessor.

Sam Sanders

Charlottesville's city manager.

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What they’re saying

“The city saw an overall increase from the previous year of 3.72 percent. For residential properties increased at a rate of 4.2 percent and commercial properties had an increase of 2.14 percent over the previous year.”

— David Milton, Charlottesville City Assessor

What’s next

City Council will continue discussions on the budget and potential changes to the tax rate during upcoming work sessions.

The takeaway

The growth in Charlottesville's tax base provides the city with more resources to address priorities, but also raises questions about housing affordability and the impacts of rising property values on long-time residents.