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Real Estate Taxes
Assessments are determined by the Assessors Office every 4 years based upon the fair market value as of January 1st of that year.
Due Date
All real property in the City of Radford is subject to taxation, except that which is specifically exempt.
Property is assessed as of January 1st of each year by the Commissioner of the Revenue. The City of Radford City Council sets the tax rate each year. Payment is made to the Treasurer’s Office in 2 installments due June 5th and December 5th. Penalty of 10% (not to exceed the tax), interest of 10% annum and $20 administrative fee (per City Ordinance Section 2-59). These can also be paid via credit card.
Under Virginia Law, failure to receive a tax bill will not relieve the penalty and interest charge that must be applied to all past due bills. The postmark applied by the U.S. Postal Service to envelopes containing payment is used to determine timeliness for mailed payments.
Exemptions
Certain property owned by the County or State, property specifically exempted by statute or by determination of the Commissioner of the Revenue for religious, charitable, patriotic, historical, benevolent, cultural or recreational uses; certain property owned by foreign governments; and certain family cemeteries are exempt from real estate taxes. All requests for tax exemption should be sent in writing to:
Commissioner of the Revenue
619 Second Street
Radford, VA 24141
Radford City residents aged 65 or over and certain disabled persons may be eligible for exemption and/or deferral of real estate tax depending upon their annual income and assets (not including the value of the home). Applications for tax relief must be filed each year. Further information on the program is available by calling 540-731-3613.
Tax Bill
Anyone who owns property or acquires additional property, excluding those with exemptions or deferrals or those who maintain an escrow account with a mortgage company, should receive a tax bill approximately 4 weeks prior to the due dates of June 5th and December 5th. If you do not receive a bill, contact the Treasurer’s Office before the due date at 540-731-3661. The appropriate information can be given over the telephone. It is preferable, but not necessary to have the bill or a copy of the bill in order to make payment.
Escrow
If you maintain an escrow account with a mortgage company, your mortgage company remits payment for your taxes. However, if you do pay into escrow yet receive a bill, forward the bill to the mortgage company. You should ask them to request, in writing, the bill from the Treasurer’s Office for future billings. It is the mortgage company’s responsibility to request a tax bill for payment of your taxes and the homeowner’s responsibility to ensure that the taxes are paid on time
If the mortgage company fails to make the request in time for the due date, a late penalty and interest will be added to any bill not paid by the due date. It should also be noted that even though it is preferable to have the original or a copy of the bill, is not necessary for payment.
Property Assessment
Under Virginia Law, real property is assessed for the entire year in the name of the owner as of January 1st of the year. The purchaser at a sale is required to see that the proceeds from the sale are applied at settlement to any taxes and levies assessed on the real estate. The liability is prorated between the buyer and the seller but the lien which arises from a delinquency attaches to the land.
If you buy property, your settlement attorney must ascertain that all taxes due and prorates them for payment out of settlement. If you have sold the property referred on the tax bill and another person has assumed responsibility for payment, please forward the bill promptly to that person or return it to the Treasurer’s Office with information as to the new owner. A delay on your part in this regard may require the new owner to pay a penalty and interest on a late payment.
Change of Address
If there has been a change in your address, your loan is paid off or any other change pertaining to the tax billing status occurs, contact the Treasurer’s Office at 540-731-3661 so that the record can be updated and the bill mailed to the correct address for future billings.
Due Date
All real property in the City of Radford is subject to taxation, except that which is specifically exempt.
Property is assessed as of January 1st of each year by the Commissioner of the Revenue. The City of Radford City Council sets the tax rate each year. Payment is made to the Treasurer’s Office in 2 installments due June 5th and December 5th. Penalty of 10% (not to exceed the tax), interest of 10% annum and $20 administrative fee (per City Ordinance Section 2-59). These can also be paid via credit card.
Under Virginia Law, failure to receive a tax bill will not relieve the penalty and interest charge that must be applied to all past due bills. The postmark applied by the U.S. Postal Service to envelopes containing payment is used to determine timeliness for mailed payments.
Exemptions
Certain property owned by the County or State, property specifically exempted by statute or by determination of the Commissioner of the Revenue for religious, charitable, patriotic, historical, benevolent, cultural or recreational uses; certain property owned by foreign governments; and certain family cemeteries are exempt from real estate taxes. All requests for tax exemption should be sent in writing to:
Commissioner of the Revenue
619 Second Street
Radford, VA 24141
Radford City residents aged 65 or over and certain disabled persons may be eligible for exemption and/or deferral of real estate tax depending upon their annual income and assets (not including the value of the home). Applications for tax relief must be filed each year. Further information on the program is available by calling 540-731-3613.
Tax Bill
Anyone who owns property or acquires additional property, excluding those with exemptions or deferrals or those who maintain an escrow account with a mortgage company, should receive a tax bill approximately 4 weeks prior to the due dates of June 5th and December 5th. If you do not receive a bill, contact the Treasurer’s Office before the due date at 540-731-3661. The appropriate information can be given over the telephone. It is preferable, but not necessary to have the bill or a copy of the bill in order to make payment.
Escrow
If you maintain an escrow account with a mortgage company, your mortgage company remits payment for your taxes. However, if you do pay into escrow yet receive a bill, forward the bill to the mortgage company. You should ask them to request, in writing, the bill from the Treasurer’s Office for future billings. It is the mortgage company’s responsibility to request a tax bill for payment of your taxes and the homeowner’s responsibility to ensure that the taxes are paid on time
If the mortgage company fails to make the request in time for the due date, a late penalty and interest will be added to any bill not paid by the due date. It should also be noted that even though it is preferable to have the original or a copy of the bill, is not necessary for payment.
Property Assessment
Under Virginia Law, real property is assessed for the entire year in the name of the owner as of January 1st of the year. The purchaser at a sale is required to see that the proceeds from the sale are applied at settlement to any taxes and levies assessed on the real estate. The liability is prorated between the buyer and the seller but the lien which arises from a delinquency attaches to the land.
If you buy property, your settlement attorney must ascertain that all taxes due and prorates them for payment out of settlement. If you have sold the property referred on the tax bill and another person has assumed responsibility for payment, please forward the bill promptly to that person or return it to the Treasurer’s Office with information as to the new owner. A delay on your part in this regard may require the new owner to pay a penalty and interest on a late payment.
Change of Address
If there has been a change in your address, your loan is paid off or any other change pertaining to the tax billing status occurs, contact the Treasurer’s Office at 540-731-3661 so that the record can be updated and the bill mailed to the correct address for future billings.