Richmond
City Council – Richmond City Hall - 900 E. Broad Street, Suite 305 - Richmond,
Virginia 23219 U.S.A. - www.council.richmondva.gov
COUNCIL PUBLIC
INFORMATION NEWS RELEASE
IMMEDIATE RELEASE TO BE FORWARDED AND SHARED
Wednesday,
29 June 2016
Richmond City Council
announces the retirement of James D. (Jim) Hester,
Richmond City Assessor of Real Estate
Most tenured local Real Estate Assessor in Virginia, having served
in Charlottesville, Petersburg and Richmond during his 44 year career
WHAT (Richmond,
Virginia U.S.A.) - Richmond
City Council today announces the retirement of James
D. (Jim) Hester, Richmond City Assessor of Real Estate. Appointed by Council on
February 23, 2006, Mr. Hester is retiring as of October 1, 2016.
Serving as
the Richmond City Assessor of Real Estate for nearly
11 years, Mr. Hester is highly regarded for his institutional knowledge,
dedication, integrity, and professionalism. His superior work in Richmond
represents some of the most turbulent state, local and national real estate
markets in recent times.
The
most tenured Assessor of Real Estate in Virginia, Mr. Hester has served in Charlottesville, Petersburg and Richmond
during his 44 year career. Among numerous professional designations and affiliations,
Mr. Hester has served as President
of the Virginia Association of Assessing Officers and the Virginia Chapter of
the Appraisal Institute; and, as an Executive Board Member of the International
Association of Assessing Officers.
Leading
the Richmond City Council Office of the Assessor of Real Estate, the Richmond
City Assessor of Real Estate oversees an office of about 30 professionals
responsible for the annual evaluation, assessment and establishment of the fair
market values of real estate located throughout the city, as required and
prescribed by Virginia State Law and per national real estate assessment
standards. This Office also manages the Richmond Real Estate Rehabilitation
Program and the Richmond Real Estate Database.
Valued at about $21 billion, Richmond real estate includes around
75,000 real estate property (tax) parcels, which are defined as divisions of
land established to provide a complete, equitable, accurate and complete unit
to enable owners to contribute a fair share of support for community services.
About 39 percent ($8.5 billion) of the value of real estate in Richmond is
exempt from taxes.
While
the Richmond Office of the Assessor of Real Estate does not set real estate tax
rates or send tax bills, Mr. Hester's work in establishing fair and equitable
values for each real estate parcel in the city has been critical in helping
ensure fairness and equity regarding changes in real estate value due to market
changes, improvements, new construction, corrections and demolitions.
Estimated
at about $240 million, Richmond Real Estate Revenue provides about one third of
annual Richmond General Fund Revenues and is the largest single local funding
source we use to pay for local services. Established by Richmond City Council
each year, the Richmond Real Estate Tax Rate is currently at its lowest in more
than 40 years, at $1.20 per $100 of assessed value (It has been cut $.92 since
1980 when it was $2.12 per $100.).
The members
of Richmond City Council thank Mr. Hester for his tremendous public service and
dedication, and wish him well in his retirement. Council will facilitate the
process of hiring a new Richmond City Assessor of Real Estate.
CONTACT For
more information, please contact Steve Skinner, Council Public Information
Manager, at 804.646.6052 (office);
804.335.4054 (mobile); 804.937.1386 (home/mobile);
or skinnesr@ci.richmond.va.us (email)
- E N D -
Steve Skinner
Council Public Information Manager
RICHMOND CITY COUNCIL
OFFICE OF THE COUNCIL CHIEF OF STAFF
Richmond City Hall
900 E. Broad Street, Suite 305
Richmond, Virginia 23219 U.S.A.
804.646.6052 (office)
804.335.4054 (mobile)
804.937.1386 (home/mobile)
804.646.5468 (fax)
steven.skinner@richmondgov.com (email)
www.council.richmondva.gov(website)
____________________________________________________
MISSION The mission of Richmond City Council is to
represent citizens in creating and amending local laws,
providing government
policy and oversight, and
approving the city budget.
VISION Richmond City Council is committed to
creating a vibrant community that is a great place
to live, work, learn, play, visit and raise a family.
