ROANOKE, Va. (WFXR) – If you’ve opened your mailbox recently in the city of Roanoke, you probably have gotten the reassessment of your home’s value. According to the city’s website, the city’s proposed reassessment is at an 8.23% change in value.
To break that down a bit more based on last year’s numbers:
Single family homes went from around $6.2 million in 2023 to $6.9 million in 2024, that’s a 10.92% change.
Multi-family homes, like apartment complexes, went from $1 million to $1.2 million, an 8.07%percent change.
Since 2022, the value of homes has increased from 2.64% to 8.2%.
(Photo Credit: City of Roanoke)
Last year, according to city officials, they saw 952 homes sold with a median price around $239,000.
Residents of Roanoke City have from now until February 5th to file an appeal with the Board of Equalization if they don’t agree with the value of their home. The board will begin accepting appeals in March, and if you disagree with the board’s decision, you can file a suit in the Circuit Court.
Roanoke City Council will meet on January 21st to discuss property reassessments, under Virginia law, reassessments come every two years, but Roanoke does it every year.