2018 General Reappraisal Property Values
On February 9th, value notices will be mailed to all real property owners.
The statutes require the general reappraisal to bring all properties to market value. One of the measures of market value is the Assessment to Sales Ratio (assessed value divided by sales price). Our current values set this ratio at 98.63%. A ratio above 100% means over-valued and a ratio under 100% indicates under-value. Currently, we are slightly under-value but well within tolerance considering we are in a rising real estate market.
Even with an under-value Assessment Sales Ratio, the overall county real property values have increased significantly as compared to last year’s budgeted value. A portion of the increase is attributable to new building and sub-divisions; but a majority of the increase reflects the increase of the real estate market since 2012 (the county's last reappraisal year). Of the near 40,000 parcels in the county - 33,500 parcels have value increases as compared to last year's value.
To initiate a Property Review for your parcel, complete the online request form here or complete the Franklin County Property Review Request on the reverse side of your 2018 Value Notice and mail to our offices. (P.O. Box 504, Louisburg, NC 27549)
2018 Revaluation Update
At the November 5th meeting of the Board of Commissioners, it was announced that real property values are generally going up as part of this revaluation. Here is the full presentation.
2018 Schedule of Values
The 2018 Schedule of Values was adopted by the Franklin County Board of Commissioners at their September 18th meeting. A copy of the 2018 Schedule of Values is available for public review at the Franklin County Tax Assessor's office. Additionally, the links below contain the entire contents of the 2018 Schedule of Values.
Street Level Imagery Project Complete
The 2017 Street Level Imagery Project has been completed.
2018 Revaluation Frequently Asked Questions
This document contains answers to many of frequently asked questions about the 2018 Revaluation.