2023 Property Reassessment
About the Reassessment
Reassessment is the process where all property (land and buildings) within The City of Lynchburg is reassessed to its current market value as of an established date, in this case January 1, 2023.
Property taxes are based on the market value of your property. Without periodic revaluation, some property owners would pay more than their share of property tax while others would pay less than their share. Revaluation resets property tax values so all taxpayers pay their fair share.
Virginia law requires the City of Lynchburg to conduct reassessments every two years to determine its market value. City assessors will visit and observe all properties to:
- Verify the accuracy of characteristics on record for the property.
- Compare similar property sales.
- Consider improvements or changes that have been made to the property.
- February 27: Estimated 30,000 notices of changes in assessment will be sent out to property owners.
- March 31: Administrative review period deadline.
- June 30: Board of equalization deadline.
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