By Matt de Simone
The Botetourt County Board of Supervisors authorized three items on the agenda pertaining to the upcoming county property reassessment taking place in 2024.
The board unanimously authorized the county attorney to submit a request to the Circuit Court judge requesting a three-month extension to March 31, 2024 for completion of property reassessment, the recommendation of nominated citizens to the Board of Equalization, and the compensation for the Board of Equalization’s services.
According to County Deputy Administrator David Moorman, the purpose of this reassessment is to ensure real estate values used for tax purposes reflect market values as those values change over time. Localities may reassess property as often as every year if they wish to do so. Botetourt has traditionally conducted reassessments every four years. State law requires reassessments to be completed every six years. No county official or body has authority over the reassessment or reassessment results, he noted.
Currently, the reassessment is being conducted by Wampler-Eanes Appraisal Group out of Daleville. Moorman continued by explaining that market value is determined by a study of market sales. The results are reviewed by the Department of Taxation and must be certified as reflective of actual values. If assessed values fail this review, a new reassessment may be ordered and/or the state may withhold revenues from the locality until those values are corrected.
Moorman updated the board on what Wampler-Eanes is currently working on and what they still have to evaluate. Before the end of next month, Wampler-Eanes will mail reassessment notices to all county property owners. The notices will show the new evaluations and include information on how owners can receive additional information, provide feedback, and seek changes or corrections.
The reassessments are to be completed by December 31 of the year preceding their effective date. In order to ensure reassessments take into account the most recent real estate sales and to provide ample opportunity for reassessing officer hearings and hearings before the Board of Equalization, Botetourt County has routinely requested and received of the Circuit Court judge, a time extension.
County staff requested that the board authorize the county attorney to submit a request to the Circuit Court judge requesting a three-month extension for completion of the reassessment. This three-month extension would expire on March 31, 2024.
Wampler-Eanes will hold hearings in January and February for any property owners who wish to dispute their reassessment. The firm will then issue written notices about actions taken in response to those hearings.
Moorman noted that “given market changes since 2020, it is expected that, on average, real estate values determined by Wampler-Eanes will be significantly higher than they were four years ago.” Changes to property values will be determined by “many factors and can be expected to vary with some properties being significantly above the average change, and others being significantly below.”
The county board will hold public hearings on the reassessments and any contemplated tax rate changes before taking any action. The county currently makes available relief to property owners who place real estate in agricultural/horticultural forests in open space uses and also offers relief to property owners who are 65 years of age and older and to those who have a permanent and total disability who meet income in net worth qualifications.
“It is important to note that reassessment notices are not tax bills,” Moorman added. “When property owners receive their reassessment notices next month, no action is required by property owners unless they have questions or wish to challenge the reassessment.”
County Communications will post information about the reassessment and how county property owners can engage in the process on the county’s website (www.botetourtva.gov/reassessment).
The county board then approved the nominations of members of the Circuit Court to the Board of Equalization who are county property owners who will serve as the appeals board for challenges from county landowners to real estate assessments conducted by Wampler-Eanes as required by state law.
The following individuals were appointed to the Botetourt County Board of Equalization, who previously served on the board in 2020:
- John Kilby, former CEO of The Bank of Fincastle
- Ralph Smith, former state senator and business owner
- Lewis Sifford, realtor and developer
- Bob Omer, former Board of Supervisors member and employee of Roanoke Cement Company
- Allison Lucas, pharmacist
If property owners are not satisfied with the Board of Equalizations decisions, they may file an appeal with the Circuit Court.
