Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, February 4, 1992 TAG: 9202040345
SECTION: VIRGINIA PAGE: B-3 EDITION: METRO
SOURCE: JOEL TURNER MUNICIPAL WRITER
DATELINE: LENGTH: Medium
DOZENS COMPLAIN ABOUT PROPERTY ASSESSMENTS
A year ago, Jesse Donahue paid $90,000 for his house and land on Overbrook Drive in Southwest Roanoke.He received a notice from the city Real Estate Valuation Office last weekend saying his property has been assessed at $98,500 for the fiscal year that begins July 1.
That didn't set well with Donahue, who spent part of Monday morning at the Municipal Building complaining about his assessment.
He talked with city appraisers, who told him they would review his assessment, but he got no immediate relief. The appraisers said they would inspect his property.
"I told them that the assessment was higher than what I paid. It's just too high," said Donahue.
Dozens of other property owners joined him Monday in complaining about their new assessments. Some said they don't understand how property values could increase during a recession. Appraisers explained that low mortgage interest rates have helped real estate sales.
Owners can appeal if their assessment exceeds the market value, or if the valuation is not equitable with other similar properties. Appeal forms may be obtained at all city fire stations, libraries or the Real Estate Valuation Office.
The deadline for appeals is Feb. 24.
Nearly half of all city property owners have received notices of their new assessments: 19,000 homeowners and 1,000 commercial and industrial property owners.
The city has 34,000 residential properties and 10,000 commercial and industrial properties.
For most property owners, the increase in values is smaller than in recent years, according to Nadine Minnix, acting director of the Real Estate Valuation Office.
She declined to estimate the average increase in assessments, but a check of city records showed that many increases were in the range of 4 percent to 8 percent. These were in the range of $3,000 to $5,000.
The financial impact of the new assessments on tax bills won't be known until City Council sets the tax rate in the spring. Now the rate is $1.25 per $100 assessed valuation.
If the rate remains the same, tax bills will be $10.25 higher for each $1,000 increase in the assessment.
Notices were mailed only to property owners whose values have changed.
Roanoke is on an annual assessment cycle, and state law requires properties be assessed at 100 percent of market value.
***CORRECTION***
Published correction ran on February 7, 1992\ Because of a reporter's error, an incorrect figure was given in an example of the increase in the real estate tax bill in a story in Tuesday's edition. For each $1,000 increase in the assessment for Roanoke property owners, the increase would be $12.50.
Memo: Correction