Chesterfield home values declined

Posted by Shawn Maclauchlan

CHESTERFIELD, VA (WWBT) - More worries for Chesterfield home owners: real estate assessors say the assessed value of most real estate in Chesterfield - both residential and commercial - declined 3.9 percent last year.

The county estimates about 93 percent of Chesterfield homes decreased in value in 2009.

Only 3 percent of them went up in value, and four percent remained the same.

Though property values decreased, Chesterfield residents will be paying more in real estate taxes.

The revenue neutral real estate tax rate is going from 95 cents to one dollar per 100 dollars of assessed value for 2011.

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