2011.03.03
Welcome to Franklin County, growth driver
Reporter Janelle Rucker today explains what’s driving Franklin County’s 18.8 percent population growth over the past decade. Much of it is related to growth near Smith Mountain Lake, but for others it is a matter of moving a little further away from work in return for much lower taxes. In Franklin County, property owners pay a real estate tax rate of 48 cents per $100 of assessed value. By way of comparison, Roanoke’s tax rate is $1.19, Salem’s is $1.18 and Roanoke County’s is $1.09. That means the owner of a home assessed at $200,000 would pay a $960 real estate tax bill in Franklin County, versus a $2,380 bill in Roanoke.
Think you will find if you do your research that most of that growth was fueled in the first part of the decade at Smith Mountain Lake – there has been stagnant growth at the lake for the past three years. Check schools, county and RVAR for more verification.
Franklin County in some pockets closer to Roanoke has seen growth for the reasons mentioned above but it hardly qualifies as a growth driver when compared to the lake.
Comment by Micah Gaudio — March 3, 2011 @ 11:42 pm