News Column

Floyd County real estate reassessment underway

January 27, 2014

By Wanda Combs, Wytheville Enterprise, Va.

Jan. 27 --The Floyd County real estate reassessment to be effective for the 2015 tax year is now in progress. Appraisers from Wingate Appraisals will be visiting properties throughout the year. All field staff will carry a photo identification badge with the Floyd County seal. All Wingate vehicles will have signs to identify them. In Floyd County the last reassessment was effective for the 2010 tax year, since real estate reassessments here follow a five-year cycle. Effective date for the new values from this year's reassessments will be January 1, 2015 . Before appraisers began visiting properties to update assessment records, they looked at the market and set up benchmarks for value, explained Wingate's Don Thomas , Vice President of Field Services. That work took place in fall 2013. Wingate will also continue to look at sales during this year. When the appraisers visit the property, they will have a copy of the existing record from the Commissioner of the Revenue's office, Thomas added. "We will make sure we have the details of the dwelling, the dimensions, outbuildings....We will be looking for any condition changes....As we do a reassessment our primary emphasis is trying to get market value on properties, and trying to get similar properties assessed equitably. Those two focuses are what we are trying to achieve." At the present, Thomas noted, "we're seeing market is about level. So there are some that will go down, stay the same. Some will go up." Appraisers visiting properties will make the great majority of their observations from the outdoors, Thomas commented. "Generally we do not go in properties." And then, he said, it is only by invitation. The appraisers will visit every property and attempt to gain access to every property except remote tracts because access in those cases is so impractical, Thomas said. In fall 2014 notices will be sent out to property owners. Property owners will be given an opportunity to respond if they wish. For more information on the reassessment visit the Floyd County website -- . ___ (c)2014 Wytheville Enterprise (Wytheville, Va.) Visit Wytheville Enterprise (Wytheville, Va.) at Distributed by MCT Information Services

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Source: Wytheville Enterprise (VA)

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