Show All Answers

1. Why have reassessments?

Reassessments are required by law to insure that each property is valued fairly.

2. What should I expect from reassessment?

A reassessment will result in a new value being established for your property. This new value will replace the value currently on your property and will be the basis used for taxing property. Please remember that an increase or decrease in property value does not automatically mean an increase or decrease in your property taxes.

3. What is the reassessment process?

After the reassessment is complete, in late 2020, property owners will be notified. Property owners who disagree with the reassessment results will be given an opportunity to appeal to the assessor and then to the Board of Equalization.

4. How will I know if someone has visited my property?

Field workers and supervisors have a Radford City ID and cars marked "Assessor". When property owners are not home at the time of the visit by the field worker; a notice will be left on the door stating the property has been inspected.

5. What is "Fair Market Value"?

Fair Market Value is defined as the amount a typical, well-informed purchaser would be willing to pay for a property, under the following conditions:
- The seller and buyer must be unrelated.
- The seller must be willing, but not under undue pressure to sell and the buyer must be willing, but not under any obligation to buy.
- The property must be on the market for a reasonable length of time.
- The payment must be in cash or its equivalent, and the financing, if required, must be typical for that type of property.
- If all these conditions are present, this is considered a market value, or "arm's length," sale.

6. How will the reassessment affect my taxes?

An increase or decrease in your assessed value does not automatically mean the same increase or decrease in your taxes.Tax rates are set yearly by the City Council.

7. Why do I have to pay property taxes?

Schools, Sheriff's Office, fire and rescue protection, libraries and other services are only a few of the amenities property taxes make possible.

8. When will the results from the current assessment be available?

Reassessment notices will be mailed to property owners fall of 2019

9. How can I tell if my reassessed value is fair and accurate?

Compare the property's value with other comparable properties. Look at properties of similar age, lot and building size, construction, improvements, location, proximity to shopping, schools and other amenities.

10. What do I do if I disagree with the assessed value?

A property owner has the right to appeal their property tax assessment. The burden of proof, however, will be on the taxpayer to prove why they should have their assessment changed. Just saying: "My taxes are too high" is not sufficient. You may appeal by either submitting a written appeal or by scheduling a face-to-face hearing.

The following may happen on appeal:
- The assessed value may be raised;
- It may be lowered
- It may remain the same

Any appeals that are not resolved by the Reassessment Office may be reviewed by the Board of Equalization.

The final appeal after the Board of Equalization would be to petition the City of Radford Circuit Court for judicial review. The Code of Virginia provides all property owners the opportunity to appeal an unfair reassessment through the Circuit Court system.