UVA Health outpatient center on Pantops could cost Albemarle County about $330,000 a year in property taxes

CHARLOTTESVILLE, Va. (WVIR) -UVA Health bought land and buildings in Pantops, and reports put Albemarle County’s property tax loss at about $330,000 a year because the University of Virginia is tax-exempt.

UVA Medical is the specific entity that bought the property. It is part of the university.

Abbey Stumpf, Albemarle County spokesperson, said: “Decisions about private property sales rest with the buyer and seller, and state agencies generally determine how they use state-owned land for public purposes. As the University of Virginia begins using the property, the County will monitor those uses to assess any impact on future property tax revenue.”

Free Enterprise Forum weighs in

Neil Williamson, president of the Free Enterprise Forum, watches how counties and businesses interact.

“On the face of it, it seems as though this would be a huge negative. But one also has to consider the other ancillary benefits,” Williamson said. He said the purchase “really does give a rebirth to Pantops.”

“That $330,000 does not take into account the idea of what additional benefit, cost benefits that are coming from the upfit, which will be positive economic activity,” Williamson said.

Possible benefits for the county and neighbors

Williamson said both Albemarle County and Pantops neighbors could benefit.

“Residents of the area will see a boost in availability of medical treatment, one would anticipate with the expansion,” Williamson said. “It could be anticipated that nearby residences would have an increase in property value if and when this comes to fruition.”

Williamson said drivers coming off I-64 could also mean more business for nearby gas stations and restaurants.

“All of those things increase economic activity,” Williamson said. “Whether or not that will reach the level that the property taxes were is an open question.”

Do you have a story idea? Send us your news tip here.