A recent citywide property reassessment has left many Martinsville homeowners concerned over rising tax bills, as some properties saw value increases in the tens of thousands of dollars. The issue was discussed during the Martinsville City Council meeting on March 13, where City Manager Aretha Ferrell-Benavides explained the reassessment process and how it affects tax rates.
While some residents celebrated increased home equity, others worried about affording the higher taxes that could follow.
Ferrell-Benavides emphasized that the city has no control over the reassessment process but does determine the property tax rate per $100 of assessed value. Currently, residents pay $0.77 per $100. The council sets the final rate to fund city operations.
“The rate has remained consistent for last year and the year before,” Ferrell-Benavides said.
Council member Julian Mei also addressed the issue, noting that his home’s value had skyrocketed as well.
Residents concerned about their reassessments were encouraged to contact the Commissioner of Revenue before the March 31 deadline to challenge their property values.
“There is a process where if you see your set rate and do not agree with it, you can go to her office and work with her, and she will help you understand how you can challenge those values,” Ferrell-Benavides explained.
Mei suggested that owners of vacant lots compare their assessments to similar parcels to potentially lower their bills.
The council is also considering adjusting the real estate tax rate to help manage financial strain in the city.
Residents voiced concerns over the financial burden the reassessment may place on longtime homeowners, retirees, and families.
“The older people that live here have no way of coming up with that excess money, and they are panicking. I talk to them every day. They are panicking,” one resident said.
A mother expressed frustration over affordability concerns.
“My kids ask me why I want to live here,” she said. “It’s the affordability.” She urged the council to keep the tax rate low to preserve Martinsville’s appeal as an affordable place to live.
Another resident suggested a homestead exemption, a program that reduces property taxes for eligible homeowners in some states.
“Maybe an idea might be a homestead exemption,” she said, citing her elderly mother’s use of the program in Florida.
Del. Eric Phillips, R-Martinsville, addressed the issue, stating he would advocate at the state level for financial relief.
“One of the things the mayor has been speaking to me about prior to this is Virginia possibly having a homestead exemption for communities,” Phillips said.
Since Virginia follows the Dillon Rule, cities like Martinsville cannot enact a homestead exemption without approval from state lawmakers in Richmond.
Melody Cartwright, who plans to oppose Phillips in November, also criticized the tax spike, attributing rising property values in part to out-of-state buyers willing to pay more for homes.
“I have met many new residents, and all have been super nice,” Cartwright said. “On the other hand, because these out-of-towners most likely feel that the cost of our houses is such a ‘deal’ and are willing to pay more, now this is another reason why our own real estate worth has skyrocketed. What about the long-term Martinsville natives?”
City council members will set the final tax rate at a later date. Until then, residents are encouraged to seek reassessment reviews if they believe their property values were set too high.
Also during the meeting, Police Chief Robert Fincher presented the 2024 annual crime statistics, reporting that the Martinsville Police Department is now fully staffed with the addition of 10 new officers this year.
“We are full, and we are thrilled at all of these individuals that we hired on,” Fincher said.
Crime in the city has continued to decline, with an 11.41 percent decrease in overall crime compared to 2023. However, drug offenses saw a slight uptick, rising from 124 in 2023 to 141 in 2024.
“I can tell you that in 2020, the numbers were even higher, so we have had a good trend,” Fincher noted.
In other matters, the council:
*Recognized Women’s History Month during the meeting.
