Reassessment sends some Franklin property values skyrocketing
Posted February 29, 2012 6:01 p.m. EST
Updated March 5, 2012 7:50 a.m. EST
Youngsville, N.C. — Franklin County commissioners plan to meet next Monday to review a property revaluation that has caused the value of some people's homes to jump by up to 700 percent.
County Tax Administrator Jimmy Tanner said Wednesday that his office has gotten numerous complaints about the revaluation since last week.
Marie Dement, 80, has lived along U.S. Highway 1 in Youngsville for almost four decades. Last year, her property was valued at $76,000, but the revaluation raised it to $446,000.
"I'm not sure I'll be able to pay it," she said of her property tax bill. "Never in my wildest dreams did I ever expect anything like this."
Charles McGhee, her grandson, lives next door, and his property value went from $113,000 before the revaluation to $890,000.
"I was looking at my house, (and) it's a mobile home," McGhee said. "Not to knock anybody with a mobile home, but I am now Franklin County's first redneck millionaire."
Some of the properties along U.S. 1 are now zoned business instead of residential, and homeowners wonder if that is why their tax values skyrocketed.
"I would hope that these would be properties that, if they were appealed and reviewed, that there would be a correction," Tanner said.
County commissioners hired Garner-based Assessment Solutions to do the revaluation, and commissioners said they want to make sure everything is right.
"I wanted some answers. The citizens want answers," said Shane Mitchell, chairman of the Franklin County Board of Commissioners.
Assessment Solutions couldn't be reached for comment Wednesday.
County officials urged anyone whose property value significantly increased in the revaluation to appeal their case.