What is reassessment?

Botetourt County is required by the Code of Virginia to reassess properties at 100% of market value at least every six years. A reassessment results in a new value being established for your property. The assessed value along with the county’s real estate tax rate is used to calculate your real estate tax bill. There are several tax relief programs available that may reduce your tax payments if you qualify.

Virginia law requires localities to update (or reassess) real estate property values within their boundaries regularly. The purpose is to ensure real estate values used for tax purposes reflect market values as they change over time. Standard assessment cycles for a locality the size of Botetourt County is every four years unless the Board of Supervisors votes to change it. This is a statutory law. It is also law that the assessments reflect market value and that they are not just "made up" numbers. 

The reassessment process is as follows:

  • The first step is a comprehensive sales study
  • Each property is visited by a field inspector who verifies data and collects additional data. The field review is done with the homeowner if they are at home. 
  • The county is divided into smaller areas called neighborhoods for market comparison.
  • Throughout the process, neighborhood sales, land values, yearly appreciation trends, and other data are analyzed.
  • Data collection is entered into the mass appraisal system and accuracy is validated.
  • GIS is utilized by appraisers and field technicians to view property lines, topography, open land vs. woodland, waterfront, etc. 
  • The goal of mass appraisal is to produce accurate appraisals and equitable assessments.
  • The primary tool to measure the outcomes of mass appraisal is the sales ratio study. 
  • A sales ratio study compares assessed values to market values as represented by open market sales. 
  • When the reassessment is complete, property owners are notified and hearings with the appraisers will be held if requested.
  • Property owners who continue to disagree with the reassessment results may appeal to a Board of Equalization appointed by the Circuit Court from recommendation made by the county. 

The county's last assessment was in 2020. The county contracts Wampler-Eanes Appraisal Group to perform a reassessment of property in the county.  It's important to note that assessed values are expected to rise significantly based on real estate price increases over the past four years. This does not mean that every land, house, and business owner will see a large increase, however, it is anticipated that, on average, county property owners will see increases in their properties' assessed values when they receive notices in the mail in early 2024.

It's important to note four things:

  • Reassessment notices are NOT tax bills. The notices give the new assessed value for your home/property.
  • Real estate taxes have NOT increased. The current tax rate of .79 cents per $100 of assessed value. No taxation changes will take place until the County budget process is completed and the amount of tax relief is calculated.
  • Botetourt County, nor the Board of Supervisors determine assessment values. This is done by a third party (Wampler-Eanes Appraisal Group).
  • Over the next few months, the Board of Supervisors will be analyzing current and future financial information, reviewing the County budget, and how the reassessment impacts the County finances compared to the tax rate.

Tax Relief Applications

Botetourt County provides a real estate tax relief program for the elderly and the disabled based on income and net worth. Applications must be filed with the Commissioner of Revenue annually by May 1st of the tax year. For Real Estate Tax Relief for Veterans with 100% Service-Connected Disability or the Elderly or Permanently Disabled Homeowners, please contact the Commissioner of the Revenue's Office.

Land Use Program

Visit the Land Use Program page for additional information. For an application, please contact the Commissioner of the Revenue's Office.

If you have further questions about real estate assessments, transfers, or relief programs you can email Real Estate or call 540-928-2050.

Show All Answers

1. What is reassessment?
2. Can I appeal my assessment?
3. Does Botetourt County offer tax relief for the elderly, disabled, veterans, farmers or others?
4. How is reassessment conducted?
5. Who conducts reassessments in Botetourt County?
6. When was the reassessment conducted?
7. What is market value?
8. What does reassessment have to do with the real estate taxes I pay?
9. If I hadn't made any improvements to my property since 2020, why would my home be worth more and my assessment increase?
10. When will I receive my 2024 general reassessment notice?
11. How do I pay my bill?