North Carolina law requires all counties to conduct property tax reassessments once every eight years, although most counties have shorter revaluation cycles. These reassessments involve the county reassessing property values to reflect the current market, and the assessed values then determine how property taxes are calculated. Because a county’s estimate may not necessarily be a true reflection of a property’s market value, homeowners can submit an appeal—and getting an appraisal from a third party can help strengthen their appeal.
You may want to consider getting a tax appeal appraisal in the following situations:
- The assessed value is higher than recent home sales nearby. If similar homes in your area are selling for lower prices than the county’s estimation of your property’s value, you should consider a tax appeal appraisal to potentially lower your property taxes.
- The county’s data about the property is incorrect. If the county has incorrect information about your property, such as the wrong square footage or number of bedrooms and bathrooms, you should appeal. Getting your own appraisal means you can present accurate information about your property.
- The property’s condition doesn’t match the assessed value. If your property is in poor condition and the county’s reassessed value seems much higher than it should be, you may a want to consider a tax appeal appraisal.
- The value increased significantly compared to previous years. If the county’s estimated value of your property is much higher than it has been in the past and there have not been any renovations or events that could have significantly increased its value, it may be time to appeal.
If you need a tax appeal appraisal, you can trust our experts at C and J Appraisal Company, LLC. Don’t wait—homeowners need to act quickly because there are deadlines for appeals. Contact us today!