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Revaluation Frequently Asked Questions (FAQs)

Revaluation Frequently Asked Questions (FAQs)

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The Revaluation Process

What is revaluation?

Revaluation is a process where all property (land and buildings) within a taxing jurisdiction (in this case Union County) is revalued to its current market value as of an established date. State law requires the County to conduct a property revaluation at least every eight years to determine its market value.

How are properties assessed?

All property (homes, commercial and land) is visited and observed by a County Assessor to:

  • Verify the accuracy of characteristics on record for the property,
  • Compare similar property sales and
  • Consider improvements or changes that have been made to the property.

Why is Union County revaluing properties?

North Carolina General Statute 105-286 requires all counties to conduct a revaluation at least once every eight years. Union County has committed to regular revaluations in order to keep property values current and promote fairness in the value upon which residents pay taxes.

What is the benefit of revaluation?

Property taxes are based on property values. Without periodic revaluations, some property owners would pay more than their share of property tax while others would pay less. Revaluations reset property tax values to their current market value so that the property tax burden is spread fairly among all taxpayers.

What is Market Value?

According to North Carolina General Statute 105-283, Market Value is defined as "the price estimated in terms of money at which the property would change hands between a willing and financially able buyer and a willing seller, neither being under any compulsion to buy or sell." The County Assessor's Office analyzes the local real estate market and uses that information to develop our estimates of market value.

How does revaluation affect my taxes?

Revaluation and taxation are separate. Revaluation determines the market value. The Union County Board of Commissioners and local municipalities determine tax rates during the annual budget process in late spring. The value of your property combined with the tax rate determines your property tax bill, which is mailed in late July.

Who assesses my property? How are they trained?

Assessor's Office staff are certified to perform property appraisals by the NC Department of Revenue. They are well-trained with decades of experience. Appraisers must meet certification and continuing education requirements to continue to perform their duties. The Assessor's Office has an internal quality control division that monitors all aspects of the process.

Is the County inflating property values to raise money?

Revaluation is required by state law and is supported by more than 30,000 sales across the County since the last revaluation in 2015. The County and City will publish a revenue neutral tax rate for review during the budget cycle this spring.

Property Information and Values

When will I get my Notice of 2021 Real Estate Assessed Value?

Notices will be mailed in February 2021.

How can I find my property information?

Look up your real estate property value here. If you determine any of this information is incorrect and can provide evidence of the error, please email us or call 704-283-3746.

What do I do if I feel like my property value is too high or too low?

If you feel that your property value is too high or too low, now is the time to communicate with the County Assessor’s Office. You can contact the office via email, by phone 704-283-3746, by mail or in person at 500 N. Main St., Monroe, NC 28112. The sooner you contact the Assessor’s Office, the better.

What does the "Deferred Amount" refer to on the Notice of 2021 Real Estate Assessed Value?

The total listed under "Deferred Amount" applies to property that is agricultural, horticultural and forestry-related.

What if my house was still under construction on Jan. 1, 2021?

Your property value will be adjusted based on what was completed as of Jan. 1, 2021. This method also applies to new additions to existing buildings, outbuildings and detached structures. All improvements started after Jan. 1, 2021 will be valued using the same Uniform Schedule of Values applied to property built prior to that date.

Can property values change before the next revaluation?

Yes, the assessed value could change if new construction or a change in zoning occurs. When that happens, market value is adjusted using the rates developed for the most recent year. For example, if a house is built in 2018 on a lot that was vacant in 2016, the new house and lot will be appraised using 2016 market values, as approved in the Uniform Schedule of Values.

Informal Review and Formal Appeals Processes

How do I know if I should file an appeal?

Once you receive your Notice of 2021 Real Estate Assessed Value in late January, you have a couple of options if you disagree with your value:

1. Informal Review: An Informal Review allows you and an assessor to review the property record and supporting information together. If an error is found, it can be corrected without having to go to a Formal Appeal. Informal reviews are encouraged.

2. Formal Appeal: If you believe your 2021 Notice of Real Estate Assessed Value is not a reasonable estimate of what your property could sell for on Jan. 1, 2021, you also have the right to file a Formal Appeal.

How do I request an Informal Review?

Request an Informal Review online, in-person or by calling 704-283-3746.

How do I file a Formal Appeal?

After you receive your Notice of 2021 Real Estate Assessed Value, there will be instructions included on how to file a Formal Appeal.

What happens after I submit my appeal?

Your appeal will be sent to the Board of Equalization and Review. You can file a Formal Appeal. After your appeal is heard by the Board of Equalization and Review, you will receive written notification of your property value in the mail. If you disagree with the decision, you have 30 days to file an appeal with the N.C. Property Tax Commission in Raleigh. Instructions on how to appeal to the N.C. Property Tax Commission will be provided in the letter you receive from the BER.

How long do informal reviews take?

Informal reviews could take anywhere from 30-60 days and largely depend on how many appeals are filed in a given neighborhood. If there are multiple appeals in a particular neighborhood, then the process may take longer. The County Assessor’s office will respond to appeals as quickly as possible.

Do I need to attend my appeal hearing?

You can appear in person before the Board of Equalization and Review, but it is not required. If you are unable to attend on the date and time set, your case will still be heard. The Board will review all submitted documentation regarding your case and mail you a decision.

Do I need a hire a lawyer to appeal my 2021 Real Estate Assessed Value?

You are not required to have a lawyer when filing an informal review or formal appeal. You can file both for free.

Taxes

I received a letter claiming my property taxes are going up and that I could save money by hiring a law firm to assist with my appeal.

There is no cost to file an appeal. If a business claims that there is a cost to appeal, the business would be misleading the public. Any fee charged by a third party goes to that business. The County Assessor’s Office is aware of at least one company that is telling property owners: “Your property taxes are going up.” This is a misleading statement, as the tax rates for the County, the City and the Towns will not be set until May or June 2021. Whether an individual property owner’s property taxes are going up, staying the same, or being reduced will not be known until the tax rates are set by the respective jurisdictions.

Will my tax bill change?

Not necessarily. Property tax bills are calculated by multiplying the Market Value by the tax rate. The Union Board of County Commissioners and local jurisdictions (city and towns) determine tax rates during the annual budget process in late spring. Your tax bill may go up, down or stay the same.

When will I get my property tax bill and when are my property taxes due?

Property tax bills will be mailed to property owners in August 2021. Property taxes are due Sept. 1 of each year and are payable without interest though January 5, 2022. An interest charge of 2% is assessed as a penalty on delinquent property tax bills received on or after January 6, 2022.

When is the tax rate set?

The Union County Board of Commissioners and local jurisdictions (city and towns) determine tax rates during the annual budget process in late spring. This process begins in May 2021. Public input is encouraged before the budget is adopted, typically in late June. The tax rate that will apply to your new property value will be set late spring and will go into effect July 1, 2021.