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REASSESSMENT
58.1-3252 IN THE CODE OF VIRGINIAREQUIRES COUNTIES WITH LESS
THAN 50,000 POPULATIONTO CONDUCT A REASSESSMENT ON A CYCLE OF NO LESS THAN
SIX YEARS.
BOARD OF SUPERVISORS
THE BOARD OF SUPERVISORSHIRE AN OUTSIDE CONTRACTOR
USING THE BID PROCESS
BLUE RIDGE APPRAISAL CO., LLCWAS SELECTED
BLUE RIDGE APPRAISALS
THE INITIAL PROCESS INCLUDED:
A COMPREHENSIVE SALES STUDYINTERVIEWS WITH BUILDERSVISITS TO SUPPLIERSINTERVIEWS WITH REALTORSCREATING VALUE MODELS
BLUE RIDGE APPRAISALS
SYSTEMATIC FIELD WORK HAS BEEN ONGOING FOR SEVEN TO EIGHT MONTHS
CONDUCT SITE VISITS TO ALL PARCELS:
CONFIRM MEASUREMENTSOBSERVE PROPERTY FEATURESADD NEW CONSTRUCTION
BLUE RIDGE APPRAISALS
THE PROPERTY INFORMATION GATHEREDIS THEN APPLIED TO THE MODELS.
OPINION OF VALUE IS APPLIED ANDCOMPARED TO SALES
FINAL ADJUSTMENTS TO THE ASSESSMENTS ARE MADE.
BLUE RIDGE APPRAISALS
NOTICES OF THE APPRAISERS PROPOSED VALUES ARE EXPECTED TO GO TO LAND
OWNERS EARLY IN FEBRUARY
EQUALIZATION
THE MOST IMPORTANT ELEMENTOF ANY ASSESSMENT IS:
EQUALIZATION OF VALUESFOR LIKE PROPERTIES.
BLUE RIDGE APPRAISALS
NOTICES WILL INCLUDE INFORMATIONFOR TAXPAYERS SO THAT THEY
CAN MAKE APPOINTMENTSTO APPEAL ASSESSMENTS THAT THEY
CONSIDER INCORRECT.
SUFFICENT TIME WILL BE GIVEN FOR ALL.
COMMISSIONER OF THE REVENUE
CUSTODIAN OF RECORDSMAKE RECORDS AVAILABLE TO BLUE
RIDGE APPRAISALSTO LAND OWNERS & PUBLICALL LAND RECORDS ARE PUBLIC MAKE THE APPOINTMENTS FOR APPEALASSISST LANDOWNERS PREPARE THEIR
APPEAL
REASSESSMENT RESULTS
THE FOLLOWING IS MY OPINION AND IS BASED ON INFORMATION FROM SALES RECORDED IN THE CLERK'S OFFICE. MY STUDY IS LIMITED AND NOT INTENDED TO BE AS COMPREHENSIVE AS THE STUDY DONE BY BLUE RIDGE.
REASSESSMENT RESULTS
MY PURPOSE IN THIS PRESENTATION IS TO INFORM THE SUPERVISORS
I WANT YOU TO KNOW WHAT TO EXPECT
THE ASSESSMENTS WILL SURELY INCREASE
REASSESSMENT RESULTS
I BELIEVE THAT THE INCREASE WILL BE AT LEAST 50% OF THE CURRENT VALUE. THE REAL ESTATE AND IMPROVEMENTS ARE CURRENTLY ASSESSED AT TWO BILLION DOLLARS AND I THINK IT WILL GO TO NEAR THREE BILLION DOLLARS.
TAXPAYER RESPONSE
MANY OF OUR TAXPAYERS DO NOT FOLLOW THE MARKET CLOSELY.
EXPECT THEM TO BE CONCERNED
SOME WILL BE UPSET
THEY WILL NEED TO BE REASSURED THAT TAXES WILL NOT GO UP ACCORDING TO
THE ASSESSMENT INCREASE.
BLUE RIDGE APPRAISAL
THE BLUE RIDGE APPRAISERS ARE PREPARED TO STAY HERE AS LONG AS
NEEDED TO HEAR FROM CITIZENS.
BOARD OF EQUALIZATION
YOU HAVE APPOINTED A GOOD BOARD OF EQUALIZATION AND THEY WILL BE PREPARED TO HOLD HEARINGS AFTER THE APPRAISERS HAVE COMPLETED THEIR WORK.
THEY WILL SET THEIR OWN SCHEDULE ALLOWING SUFFICIENT TIME FOR LAND OWNERS TO MAKE THEIR APPEALS
LANCASTER COUNTY CIRCUIT COURT APPEALS
THE CODE OF VIRGINIA PROVIDES FOR AN APPEAL TO THE COURT AND HAS NO TIME LIMITS DURING A REASSESSMENT CYCLE. THIS LAST RESORT AVENUE IS ALWAYS OPEN TO OUR TAXPAYERS.
SALES STUDY CHARTS
I HAVE PREPARED A FEW COMPARISON CHARTS. THIS IS LIMITED BUT CAN BE INFORMATIVE
THE SALES WERE RECORDED IN JULY TO NOVEMBER 2007
STATE DEPARTMENT OF TAXATION RATIO
THE RATIO STUDY DONE BY THE STATE SHOWS AN ASSESSMENT TO SALES RATIO
OF LESS THAN 60%.
AS YOU ARE PAINFULLY AWARE THIS REFLECTS POORLY IN THE COMPOSITE
INDEX.
ASSESSMENT/SALES RATIOIMPROVED WATERFRONT
JULY TO NOV
0
2000000
4000000
6000000
8000000
10000000
12000000
14000000
16000000
Assessments
Sales
26 SALES
65%
ASSESSMENT/SALES RATIOIMPROVED INLAND PROPERTY
JULY TO NOV
0
2000000
4000000
6000000
8000000
10000000
12000000
Assessments
Sales
52 SALES
60%
ASSESSMENT/SALES RATIOUNIMPROVED WATERFRONT
JULLY TO NOV
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
1800000
2000000
Assessments
Sales
6 SALES
50%
ASSESSMENT/SALES RATIOUNIMPROVED INLAND
JULY TO NOV
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
Assessments
Sales
26 SALES
42%