SMITHFIELD, Va. – Residents in Isle of Wight County are raising concerns over real estate assessments that they’ve received this week.
On social media, some are reporting increases as high as 65%.
Don Robertson, Assistant County Administrator for Isle of Wight County, told News 3 these assessments are done every four years, not annually like some cities or counties.
The Wampler-Eanes Appraisal Group, which was contracted by the Board of Supervisors, conducted the reassessment, according to the County.
The average increase for residential properties countywide was 34%, according to Robertson.
In a statement to News 3, he wrote, “The Board will likely adopt a new real estate tax rate on June 1, 2023. The Board is currently discussing a rate of 73 cents per $100 value.”
The rate is currently 85 cents per $100 value.
“They’re decreasing the tax rate slightly but, you know, when you’re coming in $220,000 over the market value of a home,” said resident Shannon Bennett, “the 10 cents per 100 they’re saving us just doesn’t make sense.”
Bennett added, “I don’t know what they’re trying to accomplish. We’ve got new neighborhoods coming in. We need new schools to accommodate these, but this doesn’t seem like the fair way to come up with those funds.”
Realtor and Smithfield resident Heather Heishman, of Verity Group at Keller Williams Realty said, “That’s the biggest concern—if people are paying taxes on something, hundreds of thousands of dollars more than what we can sell their house for, are they being taxed fairly or is this an over-correction?”
She’s concerned about what it could do to home sales.
“Historically, in my experience, we tend to see assessments slightly less than list and sales prices. But if you’re seeing tax-assessed values that have gone up 89% and home values in all of Isle of Wight County have gone up 31% in four years, there’s a big differential there.”
Heishman is referring to Dennis A. Mook who looked his assessment up online. He reports it's 89%. He said they just built their house in 2021.
“There’s no way in 18 months, my house could be valued at that amount,” Mook stated. “I think whoever the company is that was hired by the county and whatever their methods may be—are fatally flawed.”
Heishman says to fellow homeowners, “If you think you’ve been improperly assessed, you can have a local real estate agent do an initial assessment, and if there’s a huge discrepancy between what we think we can sell your house for and what your city or county thinks it’s worth, I would say the next step would be to hire an independent appraiser.”
The following information is from Don Robertson with Isle of Wight County:
The next regular meeting of the Board [of Supervisors] will be on Thursday, May 18, 2023 at 6:00pm. There is a public comment period during that meeting; however, it should be noted that if people have questions or concerns regarding their individual property reassessment, they should follow the appeals process which is as follows:
1. Informal Administrative Review hearings will be held. An appeal must be received no later than 5:00 p.m. on Friday, May 26, 2023. The mailing address is Isle of Wight County Reassessment Office, P.O. Box 685, Daleville, VA 24083, or a letter, an appraisal, and pictures may be emailed to IsleofWightreassessment2023@gmail.com. The Reassessment Office telephone number is (757) 364-4050. In-person hearings will be with the Board of Equalization.
2. The Board of Equalization meets for one year beginning July 1, 2023, to June 30, 2024. Taxpayers may appeal to the Board of Equalization by submitting a new application (to be added at a later date). Public Hearing dates will be posted after July 1, 2023.
3. At any time, the taxpayer may petition the Isle of Wight 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 within four years of the effective date of the reassessment (July 1, 2023 - June 30, 2027).
Isle of Wight residents can look up their home information by clicking here.
Click here for FAQ from the county.
