In What Will Become An Annual Occurence for the Next Few Years, Charlottesville Announces Decline in Property Values

The City of Charlottesville announced a  decline in property tax assessments, just hours after Albemarle County shared its pain.  
This is the first decline since the City began keeping detailed records in 1976.

The DP has some details:
“It’s pretty much all dictated by sales,” said [City Assessor Roosevelt] Barbour, adding that the city saw 21 percent fewer sales in 2009 than the year before. “