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Roanoke County outlines how property reassessments affect tax bills; officials report median assessment at about 94% of sales
Summary
County officials briefed the Board of Supervisors on the real‑estate assessment process, saying Roanoke County assesses roughly 46,000 parcels in‑house, targets 100% of market value, and currently shows a median assessment of about 94% compared with recent sales; board members discussed tax‑rate choices and next steps including a housing study and upcoming work session.
Roanoke County officials told the Board of Supervisors on Feb. 10 that the county conducts in‑house reassessments for roughly 46,000 parcels and aims to value properties at 100% of fair market value, but current countywide statistics put the median assessed value at about 94% of recent sale prices.
“We have over 46,000 parcels that we have to assess every year,” County Administrator Richard Kegwood said during a detailed briefing on how assessments are calculated and how they relate to local taxes and the county budget. He added: “As of January 1 … we’re sitting right around 94% as a county.”
Why it matters: real‑estate assessments are the principal local revenue base for Roanoke County and support schools and public safety. Kegwood, joined by CFO Lori…
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