CHARLOTTESVILLE, Va. (CBS19 NEWS) -- Property assessments have gone up once again in Charlottesville, according to the 2024 reassessment report newly released by the Charlottesville Assessor’s Office.

According to a release, existing residential parcels increased by an average of 5.6 percent while existing commercial properties went up by an average of 3.1 percent.

When residential, commercial and new construction parcels are averaged together, the city says taxable properties increased by five percent for 2024.

Nearly 98 percent of residential assessments increased and 83.6 percent of commercial assessments went up.

Commercial properties include apartments, retail, officer, industrial and vacant properties.

At this time, it is not known exactly how this will affect real estate taxes as the Charlottesville City Council has not yet set the tax rate for the year.

People who have questions regarding their property assessment can call (434) 970-3136. More information can also be found online here.