by Tom Chillemi –
About 40% of Urbanna real estate is owned by non-residents. That’s according to figures for the year 2021 presented to the Urbanna Town Council by Town Treasurer Michelle Hutton at the council’s Sept. 8 regular semimonthly meeting.
Of the 491 residential units in Urbanna, 194 are owned by non-residents, while 297 residential properties are owned by town residents.
There are about 85 full-time rental residences in Urbanna, said Hutton, which is about 17% of the total residences. This figure does not include short-term rentals.
The statistics further state that the “main residence location” for non-residents is 22 in Middlesex County, 13 out of state and 159 in Virginia.
In one category — properties valued from $300,000 to $399,999 — non-resident owners total 37, while 30 town residents own a property in this price range. There are 67 properties in this category and account for $51,000 in town real estate tax revenue.
Values
Urbanna has 160 dwelling units that are valued between $100,000 to $199,999, with 110 owned by residents, and 50 owned by non-residents. Town taxes paid by this category total about $57,000.
The next biggest category is values from $200,000 to 299,999 with 109 units. Of these, 67 are owned by residents and 42 are owned by non-residents. Total town taxes paid in this category are $61,500.
The third largest category of properties is the 61 units valued up to $49,999, with 35 owned by town residents and 26 owned by non-residents. Total town tax paid is $1,900.
The total value of Urbanna real estate is $106 million. This brings the town about $244,000 in tax revenue annually. Non-residents pay about $102,500 in real estate taxes, while Urbanna residents pay about $141,300. The town real estate tax rate is 21 cents per $100 of assessed value, and is paid in addition to the Middlesex County real estate tax rate of 62 cents per $100.
High end
At the upper end of the house scale, are two residences valued at $1 million with one owned by a resident and the other owned by a non-resident. The total town tax collected from these two houses is $4,600.
There are four houses valued between $800,000 and $899,999 with two owned by residents and two owned by non-residents. Town tax revenue for these houses is $7,800.
