On Oct. 12, 2018, 37,159 notices of reassessment will be mailed to all owners of taxable real estate.
These reassessment notices are not tax bills but statements of reassessed value showing the current fair market value for property and improvements. An increase or decrease in assessed value does not necessarily mean that the amount owed in real estate taxes will change. The Board of Supervisors will set the real estate tax rate as part of its budget process in spring 2019.
More information about real estate assessment and the informal hearing schedule will be available Oct. 15 at www.montva.com/reassessment
Key dates and deadlines:
- Oct. 15: Citizens may begin scheduling informal hearings with an assessor.
- Oct. 31 – Nov. 19: Scheduled informal hearings will be held.
- Nov. 9: All appeals must be postmarked by this date. All online appeals must be completed on this date by 5 p.m.
Residential real estate values will average between 3- and 11 percent, although individual assessment changes may be higher or lower. Multifamily family housing values increased on average between 4- and 21 percent. Commercial values increased on average between 4- and 9 percent, based on the type of business or industry.
Drafts of the Reassessment Books can be viewed starting Monday, Oct. 15, in the three County libraries (Blacksburg, Christiansburg, and Meadowbook); the Clerk of Circuit Court’s office; and the lobby area in front of the Commissioner of Revenue’s Office in the Montgomery County Government Center.
The Reassessment Office may be contacted by phone at 540-394-3126, Monday – Friday from 9 a.m. to 5 p.m. Again, scheduled informal hearings will take place between Oct. 31 through Nov. 19. The office is located at 16 N. Franklin Street in downtown Christiansburg. Parking is available in the rear of the building.