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Photo by Jeanna Duerscherl | The Roanoke Times

William Broaddus stands in front of his lakeside home on Smith Mountain Lake. His said his real estate taxes have increased nearly 2,000 percent since 1974. He plans to appeal the latest reassessment.

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• Franklin County's reassessment

Ways to appeal

A taxpayer has a right to appeal his or her property tax assessment for any reason. The burden of proof, however, will be on the taxpayer to prove why the assessment should be changed. A taxpayer may appeal by either submitting a written appeal or by scheduling a face-to-face hearing. Details:

The reassessment office is open Monday through Friday 8:30 a.m. to 4:30 p.m. The office will be open Nov. 29 and Dec. 4 from 1:30 p.m. to 7:30 p.m.

Appointments can be made by appearing in person or calling (540) 489-0700.

Appointments can be made by fax at (540) 489-5600. All faxes must be received by Nov. 26.

Appointments can be made by mail. All appointments must be received by Nov. 26. The address is: Franklin County Reassessment Office 40 West Church St. Rocky Mount, VA 24151

The Franklin County Board of Supervisors will establish a Board of Equalization to review any appeals that are not resolved by the reassessment office. The hearing dates and times for the Board of Equalization will be advertised in local newspapers.

The final appeal after the Board of Equalization will be to petition the Franklin County Circuit Court for judicial review. The Code of Virginia provides all property owners the opportunity to appeal an unfair reassessment through the Circuit Court system.

UNION HALL -- Sticker shock.

That's what William Broaddus experienced when he opened the envelope this week containing the reassessment on his lakefront home in Franklin County and saw the 179 percent property value increase.

Since moving to Smith Mountain Lake in 1974, Broaddus, 62, says he has seen his real estate taxes increase nearly 2,000 percent.

"I know everyone around me can probably afford to pay these types of rates, but I can't," said Broaddus, who is a retired car salesman. "This isn't my second home. This is my primary home."

Faced with paying more than $3,000 in county real estate taxes, Broaddus said he might be forced to take out a second mortgage on his home.

Franklin County property owners are likely to face a tax increase next year as a result of the reassessment notices that were mailed Nov. 9.

Countywide, property assessments increased an average of 55 percent. Property owners in the Gills Creek District, which encompasses the Smith Mountain Lake shoreline, realized an average 72 percent increase.

The real estate value on the 42,000 parcels surveyed in the county is $8.15 billion -- up from $5.26 billion in 2003.

Franklin County, like many rural counties in Virginia, has a reassessment conducted every four years to try to bring the government's estimate of property values in line with fair market value. The valuation is then used to determine a property owner's real estate tax bill.

"The county is growing faster than Botetourt," said Steven Wampler, president of Wampler-Eanes appraisal group, the Daleville-based firm that handled the county's reassessment.

Botetourt County, which also performs reassessments on a four-year cycle, saw a 31 percent increase two years ago. Neighboring Bedford County saw an increase of 65 percent last year.

"Even though it has slowed down a bit, people are still buying homes at the lake," Wampler said. "The second home market is huge, and people are buying a lot of recreational property."

Currently, the real estate tax rate in the county is 53 cents per $100 of assessed value. That would mean the owner of a property valued at $100,000 this year would have paid a tax bill of $530. If that same property saw the average increase in value under the reassessment, it would now be valued at $155,000. If the board of supervisors doesn't lower the tax rate, the tax bill on that property would grow to $821.50.

Governing bodies often lower the tax rate to take some of the sting out of a four-year reassessment. To make the hypothetical $155,000 homeowner realize no tax increase, the board would have to lower the tax rate by 19 cents.

"We are going to most likely see a tax increase," said Moneta resident Bill Brush. "There's pressure to build more schools, and we haven't had a tax increase in awhile. It's inevitable."

Gills Creek District Supervisor Russell Johnson said he would push for the rate to be lowered to 44 or 47 cents per $100 of assessed value.

"I'm just one member of the board," Johnson said. "I don't know what the other board members are thinking."

In 2004, the spring after the last reassessment, the board lowered the rate by 6 cents. Taxpayers still realized an average 30 percent tax increase.

Johnson said he would propose residents pay taxes twice a year to lessen the financial burden.

Currently, residents must pay taxes just before the beginning of the new fiscal year, which starts in July.

"I'm the only one trying to come up with different alternatives," Johnson said. "We have to explain this to residents better."

But a possible tax increase is not the only thing upsetting residents about the reassessment.

Johnson said lake residents who were trying to sell their homes were upset about the higher values.

"I've had many angry people calling me since the reassessments came out," Johnson said. "There are people who have houses up for sale at a lower rate and the assessment is at a higher rate. They're wondering how they are going to sell at the higher rate when they couldn't sell at the lower rate."

In addition to appraising the property's physical characteristics, Wampler said the company also takes into consideration the property's views of the lake and surrounding mountains.

Wampler said that property that was not directly on the lake also saw significant increases.

"Even though the real estate economy at the lake has slowed down a bit, we have to go back and get taxes from years when the real estate reached its peak," Wampler said. "We have to catch that rocket and ride it to today."

Real estate agent Paul Davis said the new increases are good for those who plan to live in their homes but will make it hard for those who are in the market to sell their homes.

"That could be a deal breaker," said Davis, who has been selling lakefront properties for five years. "People move to this area because of the reputation of lower taxes. Seeing a tax increase like that can't help."

But Broaddus wants to know where the taxes already given to the county are being spent.

"Other than the library, I haven't seen one thing that the supervisors have done with the money," Broaddus said. "We have a volunteer fire department. My house would probably burn down by the time they got here."

Residents can appeal the reassessment by making an appointment with the reassessment office by Dec. 4.

If not pleased with that decision, residents can appeal to the board of equalization and then the Circuit Court.

Wampler estimated that 2,000 to 2,500 residents would make an appointment for an appeal.

Broaddus already has his appointment set.