ROANOKE, Va. – You may be one of the many Roanoke City homeowners who got a property tax bill this week that was much higher than you expected.
In two days, more than 170 people called the city to ask questions about their property tax bills.
This year, on average, a single-family home saw an 11% spike in its property assessment.
The director of the department of real estate valuation, Susan Lower, said this is expected as the economy recovers from the COVID-19 pandemic.
“If you are thinking about selling your home, it’s a wonderful time to get the maximum sale price for your home,” she said.
Lower said they determine the assessment based on sales in the neighborhood and property details on file.
The median home price this year is $175,000. With an 11% tax hike, a homeowner is expected to pay about $235. It’s the biggest increase in the real estate value in about 15 years.
Bryan Thornhill owns 13 commercial and multi-family properties across the city and county. He is looking at a 6%-17% hike on nearly all of his city properties.
“I’ve bought a few properties over in some areas most people wouldn’t want to invest in,” he said. “I’ve completed redone those properties. I made them beautiful. And now I’m getting punished with a taxation.”
He said there is only one thing he can do now: increase rent prices.
“As a landlord, if you are going to raise my price, I have to compensate just like every other business is going to,” he said.
City Spokeswoman Lauren Waldron said 40% of the tax dollars will go to schools. The rest is used to “fund general city operations,” like paying the increase in wages for city employees.
Lower said many people are questioning why are their home values going up if they have not made any improvements.
She urges people to verify their information with the office to ensure their properties were properly assessed.
“Let’s say on the website you see your property is listed with three bathrooms but you know you just have two,” she said. “Then call us and let’s talk about that.”
Lower said people can file an appeal to the city’s office by Feb. 1. Tax aid programs are available for veterans, elderly citizens and people with disabilities.