Thursday, May 24, 2012

Roanoke County homeowners may have overpaid real estate taxes ...

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Real estate assessments are always a hot topic for homeowners and in Roanoke County assessments will soon be under the microscope like never before.

At Tuesday?s Roanoke County Board of Supervisors meeting administrator Clay Goodman revealed some errors on the county's real estate website, specifically with home sale prices.

Some assessment values also don't match up on the website.

The county said at this point they don't know if the incorrect numbers led to inflated assessments which could mean some people overpaid in taxes.

"It's a concern to know if we're doing anything wrong and if we are doing anything wrong we need to fix it,? said Roanoke Co. Supervisor Chairman Richard Flora. ?But we don't know if we're doing anything wrong yet."

10 On Your Side investigated further using both GIS and the Multiple Listing Service (MLS), a website commonly used by real estate agents.

We compared the two sites to find out how much extra tax money some homeowners may have paid.

According to MLS one house on Northwalk drive sold for $300,000 last September.

But after the sale it?s been listed as selling for $360,000 on GIS and assessed at $356,000.

That means the homeowner could have paid a $600 in taxes.

Same goes for a home on Aarons Run Circle, which according to MLS sold for $205,000.

But on GIS the home is listed as selling for $234,000 and is assessed at $226,000.

That equals an extra $200 the homeowner could have paid in taxes.

10 On Your Side also found discrepancies with other homes in Roanoke County, including Brentwood Court, Edgebrook Road, and Crumpacker Drive.

This could also have a wide ranging impact on other Roanoke County homeowners.

If an assessment is challenged then the sale price of similar homes in the neighborhood is taken into account. Meaning if the sale price of a recently sold home is inflated other homes in the area could also have higher assessments.

"At the very best we've got a problem, at the very best,? said board member Butch Church. ?At the very worst that's going to be determined. I hope and pray it's not as bad as it could be."

Tuesday night the board voted to notify the Virginia Department of Taxation and if necessary an independent third party auditor.

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