BOEminutes2023april6
Minutes
BOARD OF EQUALIZATION
Thursday, April 6, 2023
1:00PM
107 NORTH KENT STREET, WINCHESTER, VIRGINIA
ATTENDEES:
Board Members Present: Theo Theologis, Jake Carpenter, Betsy Brumback, Scott
Strosnider, Bradley Comstock
Board Members Absent:
Staff present: Kelly Fultz
Call to order: The meeting was called to order at 12:58 PM
Motion made by Jake Carpenter and seconded by Theo Theologis to approve the minutes from
3/23/2023, 3/24/2023, and 4/3/2023. The Board voted unanimously in favor of approving those
minutes.
In Person:
1:00 PM - 280 Marando Manor Dr (Map #76-A-53G) - represented by Heather Reichardt.
Home Depot warehouse, 755,855 sqft warehouse. In a lease amendment the rent being
collected was greatly reduced, so analyzing from an income approach she is indicating that
the assessed value is high. She used a conservative 6.2% cap rate and indicated that the
lease renegotiation included a split cost roof replacement with rents then increasing in 2023
and beyond (new 10-year lease). The Board pulled up other properties, noting this is the
largest they could find. There were several recent sales of similarly aged but smaller
properties indicating that this assessment was on the low end and equitable. No change
made.
1:30 PM - Multiple properties, Vansickler -Lake Holiday recreational lot, section 8 lot 22. Mr.
Vansickler shared how he cannot access the lot and neighboring lots have become
communal. In evaluating all of the adjacent recreational lots, they are all being assessed
equitably at $5,000. The Board determined that no change was merited for this lot.
Vansickler - vacant lots around his farm - no utilities, no road, no addresses. Board evaluated
and noted that his assessment already has a -25% value applied to the homesites for the
unimproved lots due to access and power restrictions. The two lots on Light Rd are being
assessed differently from the ones on Affinity Ln; however, they are being assessed equitably
to the other lots on Light Rd. The lots on Affinity are being assessed equitably and have an
adjustment for the items Mr. Vansickler noted. No changes made.
Vansickler - 342 Light Rd shared that his per acre valuation is different from neighboring
parcels - It was pointed out that some parcels have a different price per acre for the added
acreage. The Board compared to neighboring parcels, and noted that larger parcels are being
assessed at a lower price per acre, but noted other 25-55 acre parcels being assessed with
the same homesite and additional acreage value. In evaluating the Board determined that this
Property is being equitably assessed and no change was made.
148 Lenoir Dr (Map #43-19-13) - Mr. Vansickler shared that the building has some challenges
and damage due to previous tenants, and is not in great condition. The Board noted it is
currently indicated to be in Fair condition, and has a 47% depreciation applied.
2:30 PM - 1160 Clark Rd (Map #84-A-34A) Larry E Rickard presentedComparing to neighbors
is a concern. Board reviewed the property card information, owner indicates they feel the
property is valued unfairly and was told on the phone that the basement did not count.
Compared to 1038 Sites Rd at 1,000,000 home and understand the reason for the
different assessment. Board compared to neighboring properties and the items that are
different all had justifications and were equitably being applied to his as other properties. No
change was made.
Phone
3:01 PM - 110 Kinross Dr (Map #64G-2-1-8) - Dona Bondurant shared concerns for property
assessment. The Board evaluated other properties nearby, and determined that his square
foot and total valuation are in line with the others in the community and found no grounds for
adjusting the assessed value. No change made.
Follow Up:
112 Oatgrass Ct (Map #87B-4-3-187) The Board had requested assessors evaluate the land
values and return with feedback sharing reasoning and data for land valuations in Lake
Frederick. It was noted that some lots have a higher homesite and land assessed value, while
some have a lower. 112 Oatgrass is one with the higher valuation. The Board took action to
reduce this homesite valuation to equalize it with other similar parcels in this
community. This lowers the total assessment from 588,000 to 558,000.
Lake Frederick lots/homesites - Upon consideration of 112 Oatgrass, and the information
researched and found through the assessors, it was noted that there are 59 lots being
assessed with a higher homesite valuation. The Board voted to have the assessors take
action to equalize all of these lots, bringing down to the same homesite and lot assessment as
the other homes in Lake Frederick.
No Address assigned - Fuog (Map #69-A-43) - The Board had requested that the assessor
research any building permits pulled. A deck permit was found, but no others. The Board took
action to remove the effective age (10), remove the heat source, and change the condition
Fair, and removing the homesite. With all of the changes made, it reduced the total assessed
value from 368,600 to 297,100.
Board adjourned at 4:00 PM
Respectfully submitted,
Bradley Comstock
Secretary, Board of Equalization, Frederick County, Virginia