Average Property Values Up 45 Percent In Franklin County
Posted December 11, 2003 9:20 a.m. EST
FRANKLIN COUNTY, N.C. — Some residents in
are experiencing sticker shock after property revaluation notices went out this week.
On average, property values have gone up 45 percent, according to county tax administrator Jim Wrenn.
Most counties revalue properties every eight years, but Franklin County is on a six-year cycle.
The county has grown extensively over that period of time.
According to the 2000 Census, Franklin is the 14th fastest-growing county in the state.
Wrenn said the revaluation will restore equity to the county's tax base.
The county will set the property tax rate after the budget process in the spring.
It expects at least 10 percent of property owners to appeal their revaluations.