2) Assessment that is, by code, supposed to be 100% of market value – this is, and has been, with regards to true market value, irrelevant, as it is not a up-to-date as a market analysis reflecting current market value, as they are done once yearly.
…Tax rates, on the other hand, can be changed according to a local government’s needs and wishes but, ultimately, it is the prerogative of the local elected body – the Board of Supervisors, in the case of Albemarle County – to decide at what level to set the tax rate.