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Roanoke projects 8.23% overall real estate reassessment for FY25–26; appeal deadline Feb. 5
Summary
City staff told council the FY25–26 general reassessment projects an 8.23% increase in overall assessed value (residential +10.92%, multifamily +8.7%, commercial +3.2%) and reminded owners that the appeal window closes Feb. 5; staff outlined vetting of sales and inspection cycles.
City staff told the Roanoke City Council on Tuesday that the fiscal-year 2025–26 general reassessment will increase overall assessed real estate values by 8.23 percent, with residential properties rising faster than commercial values.
Kelvin C. Bratton, director of real estate valuation, presented the update and said the office vetted 2,365 sales for the reassessment and projects an overall 8.23% increase for FY25–26. "Our projected change in assessment for fiscal 25–26 is 8.23%," Bratton said. He provided a sector breakdown: residential assessed values up about 10.92 percent; multifamily up about 8.7 percent; commercial up about 3.2 percent.
The presentation also included new-construction figures and procedural information. Bratton said the office physically inspected a portion of sales and that inspections occur on a four-year cycle (about 25% of the city inspected each year). He said the office realized roughly $97.25 million in new construction in 2024 and projects about $68.74 million in new construction for 2025–26.
Property owners unhappy with their assessments were reminded of the appeal process and deadlines. Bratton said owners may file an appeal with the assessor's office on or before Feb. 5; if unsatisfied with that outcome they may appeal to the Board of Equalization and subsequently to the circuit court.
Why it matters: Changes in assessed value do not automatically change tax bills but affect the tax base that council must balance when setting rates. Council members and staff discussed the limits of the assessor's office, the legal requirement to assess at 100% of market value under state law, and how inventory shortages and interest-rate dynamics have supported recent price increases.
Selected figures and next steps: - Projected overall assessment change, FY25–26: 8.23% (residential +10.92%; multifamily +8.7%; commercial +3.2%). - New construction realized in 2024: $97,250,400; projected new construction 2025–26: $68,737,600. - Appeal deadline to assessor's office: on or before Feb. 5; further appeals to Board of Equalization then circuit court.
Bratton and staff offered neighborhood meetings and outreach; Deputy Director Angela Arnold was listed as the contact for neighborhood visit requests. Council members asked staff to continue public education about assessment methodology and to make appeal support available to residents.
