Receiving a property tax bill that’s higher than expected can be frustrating, especially when you believe the assessed value of your home doesn’t reflect its true worth. In North Carolina, property assessments are updated regularly, but mistakes can happen, or the market may shift in ways that impact your property’s valuation. Fortunately, homeowners have options to challenge an inflated tax bill. In this blog, we’ll guide you through the process of disputing a higher-than-expected property tax assessment in North Carolina, from understanding the assessment details to filing an appeal and navigating the hearing process. With the right approach, you may be able to lower your tax burden and ensure that you’re not paying more than your fair share.
How Often are Property Values Assessed in North Carolina?
In North Carolina, property values are typically assessed for tax purposes every eight years by county assessors. This is part of a statewide system known as “revaluation,” where the local tax authority updates property values to reflect current market conditions. However, some counties may choose to conduct interim assessments or adjustments in between revaluations to account for significant changes in property values. While property values may change due to market fluctuations or home improvements, the official assessed value used for tax calculations is updated during these revaluation periods. Homeowners are notified of any changes in their property’s assessed value, and they can appeal if they believe the assessment is inaccurate.
Should I Appeal a Property Tax Assessment?
If you believe that your property tax assessment is too high or does not accurately reflect your home’s market value, it may be worth considering an appeal. Common reasons for appealing include recent changes in the neighborhood’s property values, discrepancies in the assessed value compared to similar homes, or potential errors in the property’s details, such as square footage or number of rooms. An appeal could result in a reduction of your property taxes, which can lead to significant savings. However, it’s important to gather strong evidence, such as recent sales data or an independent appraisal, to support your case. Before deciding to appeal, weigh the potential benefits against the time and effort involved, as well as any possible costs associated with the process. Consulting with a tax professional or real estate expert can help you assess whether an appeal is a good option for you.
How to Appeal a Property Tax Assessment in North Carolina
Appealing a property tax assessment in North Carolina involves a few key steps to ensure your case is heard. First, review your property tax assessment notice carefully to verify that all details, such as the property’s size, condition, and features, are correct. If you spot discrepancies or believe the assessed value is too high, the next step is to file an appeal with your local county assessor's office. You typically have a window of 30 days from the date of receiving the assessment notice to submit your appeal. In your appeal, you’ll need to provide supporting evidence, such as comparable property sales, an independent appraisal, or documentation of any errors in the property details. After submitting your appeal, the assessor will review the evidence and may offer a revised assessment. If you disagree with the outcome, you can request a hearing before the Board of Equalization and Review. It's recommended to consult with a property tax professional or real estate expert to help guide you through the process and improve your chances of a successful appeal.
