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A general reassessment is required by state law (Code of Virginia Section 58.1-3252). Periodic reassessments are necessary to provide our office with the records it needs to make sure that our county conforms to state law.
We are required by Virginia State Law to assess property at 100% of fair market value. (Code of Virginia: § 58.1-3201) Fair market value is considered to be the most likely price that someone would pay for a given piece of property on the open market, when there are no special circumstances to be considered.
Mass Appraisal employs a cost approach, whereby improvement value is determined by calculating the cost to replace the construction today if it were new, minus the current depreciation of the structure based on its effective age. Raw land which has not been improved may be selling at a different price than at the time of the previous assessment. In addition, market demand can drive a fluctuation in sales prices.
Our staff is made up of local assessors who have both appraisal training and have over 50 years of combined experience assessing property in our county. Our chief property assessor is certified by the Virginia Department of Taxation as the assessor designated to complete this general reassessment. All three of our assessors are certified with Master designations through the Weldon Cooper Center of the University of Virginia.
Market trends dictate that properties in a certain section of Wise County may increase at a different rate than properties in another area of the county. A scientific analysis of the sales study will reflect the higher demand for particular types of properties, including those which are located in more desirable areas. The county increase or decrease is an average that reflects the difference in total value over the last reassessment cycle, but does not necessarily reflect each individual and unique property. One property value changing at a different rate than the county-wide average is not unusual, nor is it grounds for an appeal by itself.
The purpose of a general reassessment is not to raise taxes. The Wise County Assessment Office is not responsible for determining the tax rate or setting the county budget. The Wise County Board of Supervisors is the governing body that will determine the rate at which taxes will be paid, and they can vote to increase or lower the tax rate for any tax year, whether or not it is a reassessment year. The tax rate should be set at an amount that covers the county’s expenses, regardless of what the assessed value is.
Historically, values normally increase over time; however it is possible to experience a higher value with lower taxes if the Board of Supervisors decreases its tax rate. Our office has no control over the county tax rate, collection policies, or the local sales ratio. All questions or concerns about the tax rate should be addressed to your representative on the Board of Supervisors.
The last reassessment went into effect on January 1, 2018. State law mandates the frequency of our reassessment cycles based on the population of our county. (§ 58.1-3252).
Our office will send you a Notice of Value to the address we have on file. All new values will be effective as of January 1, 2022.
If you are permanently & totally disabled, over the age of 65, or if you are a veteran who has a 100% service related disability through the Veterans Administration, you may qualify to have a portion of your tax bill reduced. Please call the Commissioner of the Revenue’s office for more information or to request an application. You may also print an application from our Forms and Applications page.
An appeal process is in place to guarantee that your assessment is accurate. We recommend the following steps:
If you disagree with the assessment, you may call to schedule an appeal with the Assessment Office. You will need to be prepared to provide substantial proof of an error to proceed with your appeal.