City to reassess real estate values

Published 1:08 pm Saturday, October 31, 2015

The City of Franklin has selected the Daleville, Virginia, firm of Wampler-Eanes Appraisal Group Ltd. as General Assessor for the 2016-2017 general reassessments of real estate values for the City.

The last reassessment was effective for the 2014-2015 tax years. The current assessments do not reflect recent changes in market value. The Code of Virginia requires localities to reassess all property at 100 percent of fair market value.

A team of appraisers from the Wampler-Eanes firm will personally inspect every parcel in the City, both taxable and non-taxable, to establish the current fair market value of the real estate in accordance with State requirements.

In October, the firm began the process of performing a sales study to determine general market values in the City of Franklin. Assessment team members are evaluating sales from the past of all types of real estate to establish a base line of comparable values for the various types of properties in the City.

Steven I. Wampler of Wampler-Eanes Appraisal Group will be the project supervisor for the reassessment. With him will be professional assessors as designated by the Department of Taxation in Richmond.

According to the press release distributed by the City, “Wampler-Eanes realizes this will be a very challenging real estate market for the City of Franklin and will be analyzing sales through December.”

The appraisal team will also digitally photograph all the properties in Franklin. All appraisers will have magnetic signs on their vehicles identifying themselves as reassessment employees as well as personal identification.

If residents are not home when an appraiser visits a property, the appraiser will leave a notice indicating that the property has been inspected. Residents are invited to call with any pertinent information, which can affect the value of their property. A telephone number will be on the notice if more information is needed or if the property owner wants to contact the reassessment office. Notices of the proposed 2016-2017 assessed values will be mailed in April 2016. Property owners will then have an opportunity to appeal the assessed values.

Wampler, who is also company president, stated, “Our firm of over 30 employees is composed of highly qualified and diversely experienced appraisers and field technicians. We are excited about the opportunity to work again with the City of Franklin on their Reassessment Project.”