Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, February 19, 1991                   TAG: 9102190359
SECTION: VIRGINIA                    PAGE: B2   EDITION: NEW RIVER VALLEY 
SOURCE: New River Valley bureau
DATELINE: CHRISTIANSBURG                                LENGTH: Short

MONTGOMERY EXTENDS TENURE OF ASSESSORS

In special hearings over the past two weeks, the assessors have fielded inquiries from roughly 1,200 county property owners about the new county real estate reassessment, according to Ward Teel, the board's chairman.

Many complaints have also been handled by telephone, Teel said. The hearings officially ended Thursday but the board aided residents both Friday and Monday, Teel said.

Many of the questions came from rural areas where property owners were confused by the market value of their property listed on the reassessment forms compared with the much lower agricultural land-use value they have been paying taxes on, Teel said.

The reassessment increases the value of taxable real estate in the county from $1.510 billion to $1.897 billion - an increase of $386.7 million or 25.6 percent.

The final value of taxable real estate will depend on the action of the Board of Assessors and an equalization board in adjusting property values following appeals by property owners.

The current county real estate tax rate is 81 cents on each $100 of assessed value, but state law requires that rate to be reduced to 67.5 cents to make up for the increased value of the reassessment. The Board of Supervisors will have to raise the tax rate if it wants to increase county revenues.

The assessors office in the courthouse annex is open from 9 a.m. to 4 p.m. The phone number is 382-6945.