L
YNCHBURG, Va. - With new real estate property tax assessments being mailed out this weekend, Lynchburg leaders are warning residents to prepare for an increase. The 2025 reassessments will be 15.5% higher across the board, with residential sector assessments up 20% compared to 2023.

    According to City Assessor Jeffrey Bandy, two areas in particular could see a significant jump: Timberlake/Graves Mill Road and Fort Hill, where assessments may increase by as much as 30%. "Demand in these areas is at an all-time high," Bandy said.

    Lynchburg resident Beth White, who lives in Fort Hill, attended the council meeting where Bandy presented his findings. While she was surprised by the potential increase, she understands that it's a sign of growing demand and rising property values. "It's a good thing that property values are going up," White said.

    White has been an active participant in city council meetings, including opposing a previous proposal to lower the real estate tax rate. She believes that paying taxes is essential for supporting city services like public safety and education. "We're a city; not a county," she said. "If we want services, those are things you have to pay for when you live in a city."

    Lynchburg City Council is still discussing how to respond to the increased assessments. Councilman Martin Misjuns has proposed lowering the real estate tax rate from 89 cents per $100 of assessed value to between 74 and 77 cents. However, no decision has been made yet, and White hopes for a thorough discussion before any action is taken.