PETERSBURG, Va. (WWBT) – City officials in Petersburg are admitting a major mix-up on real estate taxes. The city says thousands of properties were underbilled, potentially meaning thousands of residents could end up paying more in the near future.
The city says it was made aware of the mistake a couple of weeks ago but first made the error public during its city council meeting Tuesday.
The current real estate tax rate is about $1.27 per $100, but city manager March Altman says that tax rate was incorrectly applied to last year’s property values which were generally lower.
According to the city, roughly 65% of Petersburg properties have increased in value since last year.
Altman says if a resident received a real estate reassessment notice back in January that was higher than their previous property value assessment, then there’s a good chance you were underbilled in your most recent bill due at the end of the month.
“This is our…