The Downtown Service District Tax became effective July 1, 1987.
Pursuant to Section 32-102.1 of the Code of the City of Roanoke, an additional tax is levied upon property in the downtown area. This tax, set by City Council
, is used to provide special downtown services such as:
- Business and developer recruitment
- Economic and business development
- Planning for the development or revitalization of downtown
- Promotional activities intended to foster business retention
- Public space, transportation and facility needs
The current tax rate is $0.10 of every $100 of assessed property value, or 0.01%. This tax is assessed in addition to the 1.22% general real estate tax.
The revenue generated from this tax is managed by Downtown Roanoke, Inc. (DRI)
, a non-profit organization under contract with the City of Roanoke. Like the general real estate tax, the Downtown Service District Tax is due on or before October 5 and April 5 of each year. Taxes collected are remitted to DRI on October 15, April 15 and July 25 of each year.