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    2019 Proposed Real Estate Reassessment Changes

    The Lynchburg Assessor’s Office is required by state law to conduct a reassessment of real property within the City of Lynchburg every two years. The following are the proposed reassessment summary changes for 2019:
     
    Total taxable real estate values are proposed to increase from $5.32 billion to $5.63 billion, a 5.76% increase. 
     
    Residential values are proposed to increase from $3.13 billion to $3.26 billion, a 4.12% increase.  
     
    Multi-Family values are proposed to increase $390.2 million to $453.2 million, a 16.17% increase.  
     
    Commercial values are proposed to increase from $1.44 billion to $1.55 billion, a 7.79% increase. 
     
    Industrial values are proposed to increase from $362.5 million to $365.2 million, a 0.75% increase. 
     
    Exempt values are proposed to increase from $1.74 billion to $1.80 billion, a 3.32% increase.
     
    Assessment change notices will be mailed to property owners on March 1, 2019. Properties that did not change in assessment will not receive a notice.  
     
    Property owners will have from March 1 until April 1, 2019 to ask the Assessor’s Office for an Administrative Review of the Proposed Assessment Changes.
     
    Property owners are encouraged to first visit the City Assessor’s web page, and click on Parcel Viewer where they will find a database for sales in their neighborhood. The owner can type in their property address and click on the Neighborhood Sale tab for a listing of sales used for valuation. For a detailed analysis, click on the Search tab and then click on the Show Advanced Search Options.
     
    Review Form Requests are located on the back of Assessment Change Notices and may be mailed to Assessor’s Office. Alternatively, property owners may file Review of Assessment requests electronically here. Click on Forms and then click on 2019 Office Review Application to file a review request online.
     
    For more information, call the City Assessor’s Office at (434) 455-3830. The office is located in City Hall, 900 Church Street and is open Monday - Friday, 8:30 a.m. until 5:00 p.m.