Appraisers expect to begin Shenandoah County’s next real estate reassessment later this month.
Gary Eanes, of Wampler-Eanes Appraisal Group, told county supervisors during last week’s Board of Supervisors meeting that his firm, which has a main office in Daleville in Botetourt County, planned on establishing an office in Woodstock this week with the intent of beginning field work on the newest reassessment during the third week in August. The reassessment will take effect on Jan. 1, 2022.
Shenandoah County’s last reassessment, also done by Wampler-Eanes, took effect on Jan. 1, 2016. State code requires that counties with a population of less than 50,000 perform reassessments no less frequently than every six years.
Eanes, during his presentation last week, said the first step of the reassessment would be a comprehensive field study. He noted that he expects the field work to take 12 to 14 months to complete, after which property owners will receive notices regarding their new reassessment and will have the opportunity to make an appointment with appraisers to go over any concerns.
“We’ll start about the third week of August knocking on doors and visiting properties and we’ll probably start right in Woodstock,” Eanes said.
During the process, Eanes said, the county will be divided up into “smaller market areas such as Strasburg, Woodstock, Edinburg, just to name a few,” and those market areas would not be compared to each other for the purposes of the reassessment.
He added that Wampler-Eanes would use “all three approaches” – cost, sales and income (in the case of apartments and retail stores) – when assessing property values.
“Our goal throughout the whole process is to acquire accurate appraisals and equitable assessments,” Eanes said. “Basically, we want to ensure that the tax burden is distributed correctly across the board. If you live in a $100,000 house, you need to pay taxes on a $100,000 house versus someone that’s in a million-dollar property. It needs to be fairly distributed and the only way to do this is to do appraisals.”
Shenandoah County budgeted $340,000 for the hiring of an independent firm to perform the reassessment in the fiscal year 2021 budget that took effect on July 1.