Roanoke City Council to hold public hearing on proposed property tax rate increase

Roanoke, Virginia – The City of Roanoke has issued a formal notice regarding a proposed increase in real property tax rates, citing a 7.59 percent increase in the total assessed value of existing properties compared to the previous year. This increase excludes assessments from new construction or improvements to existing structures.

In accordance with Section 58.1-3321 of the Code of Virginia, the city is required to notify residents when a tax rate adjustment is being considered that does not offset the increase in overall property assessments.

To collect the same amount of tax revenue as the previous year, the real estate tax rate would need to be adjusted downward to what is referred to as the “lowered tax rate,” which is $1.134 per $100 of assessed property value. However, the City of Roanoke is proposing to adopt a tax rate of $1.22 per $100 of assessed value. This proposed rate is $0.086 higher than the lowered rate and represents a 7.05 percent effective tax rate increase.

It’s important to note that individual property tax bills may vary depending on changes in specific property assessments. Some property owners may see a larger increase than the effective rate, while others may see a smaller one.

The city’s total operating budget may also be affected by this change. Depending on final adjustments and revenue streams, Roanoke’s budget for the coming fiscal year is projected to be no more than 1.00 percent lower or up to 9.13 percent higher than the previous year’s budget.

Public Hearing Details

To ensure community participation and transparency, the Roanoke City Council has scheduled a public hearing to receive feedback on the proposed property tax rate increase. The meeting will be held:

Date: Monday, April 21
Time: 7:00 PM
Location: Council Chambers, Fourth Floor, Noel C. Taylor Municipal Building

Residents who wish to speak at the hearing must sign up in advance. Sign-ups can be completed in one of three ways:

• By calling the City Clerk’s Office at (540) 853-2541

• By sending an email to [email protected]

• By filling out the online participation form

The deadline to sign up is 4:00 PM on April 21.

For more information, visit the City of Roanoke’s official website or contact the Clerk’s Office directly.