“It is a great honor to continue to serve as Commissioner of the Revenue for the City of Radford.The position of Commissioner of the Revenue was established by the Constitution of Virginia in 1786. This is an elected position to ensure and protect the independent status of the office and to ensure that local tax revenues will be assessed by an officer who reports directly to you. My staff and I are advocates for you, the taxpayer.The duties and responsibilities of the Commissioner of the Revenue are mandated by local ordinance and state code. As Commissioner, I operate as the Chief Assessing Official for the City of Radford. I have a Bachelor of Finance and I earned my Master Commissioner designation from the University of Virginia in 2009 and am a member of the Commissioner of the Revenue Association and serve on the Audit Committee.I am also a member of the Virginia Association of Assessing Officials as well as other professional organizations. I am a lifelong Radford resident and served as a Deputy in the Commissioner’s Office prior to my election as Commissioner in 2003. I have over 25 years of public service and am dedicated to providing superior customer service and performing my duties in a fair, professional and equitable manner.My office maintains an open door policy and I look forward to meeting with you.”
REAL PROPERTY REASSESSMENT 2024
Per state code section 58.1-3250 the City of Radford is required to perform a general reassessment of real property every four years.
The general reassessment of real property for Radford City will be effective January 1, 2024. The purpose of the general reassessment is to establish a property’s fair market value. The last general reassessment to establish fair market value was effective January 1, 2020.
The reassessment process involves site visits by a team of assessors to each property throughout the City in order to view the property and verify information on the property data cards. These visits were conducted during 2023. Once the site visits are complete, the assessment firm will perform an in-depth market analysis of the most current sales data to determine the new fair market value of all real estate.
After the analysis is complete, a notice of the proposed 2024 valuation will be sent to all real estate property owners in mid to late November 2023. There will be an appeal process following receipt of the updated assessments to provide property owners an opportunity to challenge the valuation.
Radford City is required to reassess all real property located in the City every 4 years per state code. As many of you are aware, the real estate market has increased significantly since the 2020 reassessment, resulting in much higher values. While this would lead most to expect real estate taxes to increase significantly as well, that may not be the case. The tax rate set by City Council during the budget process is what drives revenue/tax increases and ultimately determines what you pay, not the property value change to fair market value via the reassessment process. The purpose of the reassessment is NOT to generate more revenue, it is to redistribute the tax burden based on the value of your property.
The reassessment process is dictated by the Code of Virginia and the tax implication is designed to be almost revenue neutral.
The section of the code that addresses the tax implication is §58.1-3321 and is referenced below:
§ 58.1-3321. Effect on rate when assessment results in tax increase; public hearings; referendum.
A. When any annual assessment, biennial assessment, or general reassessment of real property by a county, city, or town would result in an increase of one percent or more in the total real property tax levied, such county, city, or town shall reduce its rate of levy for the forthcoming tax year so as to cause such rate of levy to produce no more than 101 percent of the previous year's real property tax levies, unless subsection B is complied with, which rate shall be determined by multiplying the previous year's total real property tax levies by 101 percent and dividing the product by the forthcoming tax year's total real property assessed value. An additional assessment or reassessment due to the construction of new or other improvements, including those improvements and changes set forth in § 58.1-3285, to the property shall not be an annual assessment or general reassessment within the meaning of this section, nor shall the assessed value of such improvements be included in calculating the new tax levy for purposes of this section. Special levies shall not be included in any calculations provided for under this section.
B. The governing body of a county, city, or town may, after conducting a public hearing, which shall not be held at the same time as the annual budget hearing, increase the rate above the reduced rate required in subsection A if any such increase is deemed to be necessary by such governing body.
Business personal property and machinery and tools tax
Local business license tax
Personal property tax
Prepared food and beverage tax
Real estate tax
Transient lodging tax
A direct contact with the State Department of Taxation
Administer Land Use Program
Administer Rehabilitation Tax Credit Program for building preservation
Annual certification of land look
Annual certification of personal property book
Annual issuance of hunting licenses, fishing licenses,
Assistance with state tax return filing
Assisting the Board of Equalization with real estate assessments
Certification of local bank franchise tax
Certification of Personal Property Tax Relief
Certification of state motor vehicle rental tax to Department of Motor Vehicles
Processing state tax returns
Real estate tax relief for the elderly and disabled
Code of Virginia Chapter 748 Section 2.2-3704.1, 2.2-3704.2 states the Freedom of Information Act (FOIA) post notice of right and responsibilities. The Commissioner of the Revenue, Cathy Flinchum, is the designated FOIA officer. Information regarding FOIA procedures may be found by clicking on this link: FOIA