The 2013 real estate assessments are out for Roanoke City and you may have noticed the assessment you received in the mail is down from last year.???
We're told a majority of the city's residential neighborhoods declined.
There was a 1.12 decrease in reassessments. That number is offset by a .42 percent increase from new construction--- projects like new Fed Ex facility, Center in the Square renovations and Cook Out Grill.
Add those two numbers together a total decrease of seven tenths of a percent for real estate assessments.
Susan Lower with the Roanoke City Real Estate Valuation office says although there is a decrease there is some positive news.
The median home sale price was slightly up this year to $132,000. Last year it was $130,300.
Foreclosures also dropped from 327 in 2011 to 283 in 2012.
?I think those trends are looking good for residential. We also saw that new construction was stable from last year so we're seeing a lot of development in the downtown central business district, apartments were in demand especially downtown? said Lower.
She says some apartments saw increases this year and overall the numbers are moving in the right direction. Lower says next year should determine if the city's really rebounded.??????
If you don't agree with your assessment you can appeal directly with the office of real estate valuation by February 4th.
Lower also said across the state numbers are looking better, the Tidewater and Northern Virginia area assessments are starting to increase.
Source: http://www2.wsls.com/news/2013/jan/11/roanoke-city-real-estate-assessments-drop-median-h-ar-2461558/
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