|Section 32-102.1 of the Code of the City of Roanoke, provides an additional tax on property in the downtown area. This tax, set by City Council, is used to provide special downtown services such as:
- Economic and business development
- Promotional activities intended to foster business retention
- Business recruitment and developer recruitment
- Planning for the development or revitalization of downtown
- Transportation and public facility and public space needs
The current tax rate is 10 cents of every 100 dollars of assessed property value, or 0.01%. This
tax is assessed in addition to the 1.19% 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.