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Petersburg News

Posted on: January 25, 2024

Petersburg Real Estate Tax Reassessments

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Petersburg Real Estate Reassessment Notices

 

FY2025 Reassessment Notices will be mailed to approximately 13,000 Petersburg property owners on Friday, January 26, 2024. These notices reflect the assessed value of the properties as of January 1, 2024, and will be used as the basis for real estate taxes in fiscal years 2025 and 2026. The new assessed values will take effect on July 1, 2024. 

 

In Virginia, property assessments must be conducted at 100% fair market value by the Assessor's offices. The average property assessment increase citywide is 15%, and the median value for a single-family residence is $200,000.00.
 
If you are a property owner in Petersburg and do not receive the FY25 Reassessment Notice, please contact the Assessor’s office at (804) 733-2333 to ask if your valuation has been modified.    

 

APPEALS

Property owners who wish to appeal their property assessment can file an office review application. The deadline to submit an appeal is March 1, 2024. If property owners are dissatisfied with the outcome of their appeal to the City Assessor's Office, they can further appeal to the Board of Equalization. The deadline to file a Board of Equalization application is April 1, 2024. Appeal applications can be obtained at the City Assessor's Office, online at https://www.petersburgva.gov/940/Applications-Forms, or requested by calling (804) 733-2333. 

 

TAX RELIEF PROGRAMS

The City of Petersburg offers tax relief programs for homeowners who are at least 65 years of age or permanently and totally disabled and meet certain income and net worth requirements. For more information on tax relief programs, citizens are encouraged to contact the Commissioner of the Revenue at (804) 733-2315. 

 

Property owners are encouraged to stay informed about their property assessments and take advantage of applicable tax relief programs.

 



 

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