Local News

Majority of Property Owners Winning Revaluation Appeals

Posted February 20, 2008

Map Marker  Find News Near Me

— Wake County property owners who appealed the new values placed on their homes, land and businesses last year are winning their cases more often than not, officials said Tuesday.

County officials have heard 12,184 of the 28,867 appeals filed by the Jan. 1 deadline, and values in 7,291 of the cases heard so far have resulted in adjustments, said Ken McArtor, Wake County's appraisal manager.

Most of the adjustments have resulted in lower property valuations, although a few appeals backfired for the property owners and ended in even higher valuations, he said.

The adjustments have cut about $500 million from the overall assessed value of the properties involved in the appeals so far, McArtor said.

The appeals process followed the county's first property revaluation in eight years. Average property values jumped 43 percent from 2000 levels, with higher increases seen inside the Interstate 440 Beltline and several suburbs.

The Wake County Board of Commissioners voted last month to set a target tax rate of 53 cents per $100 of assessed value for the fiscal 2009 budget so the county wouldn't receive a windfall from the higher property values.

34 Comments

This story is closed for comments.

Oldest First
View all
  • TruthBKnown Banned Again02 Feb 21, 2008

    "I was also just thinking back to when experts at one time said that we spend our first 5 months of every year paying income taxes"

    And that will change with Obama as president. Count on it. We'll be working well over 6 months to pay for his tax increases so he can dole out health benefits, free college, etc., in exchange for votes from the poor.

  • common_sense_plz Feb 21, 2008

    Of course tax values are not going to drop, when it come to realestate....it only goes up. I was also just thinking back to when experts at one time said that we spend our first 5 months of every year paying income taxes, if we were to figure in all of our taxes, I believe that we will find that we spend the greater amount of 8 months just to pay our all the taxes we owe. Now of course when it comes to property taxes and such it is going to depend on the evualation and what your home is worth, along with your cars and such.

  • RonnieR Feb 20, 2008

    childofNC, the members of the GA say that when they pass the
    laws, those that EARN less that $x will be able to get and exemption, BUT the local revenue departments not only count EARNED
    income, but also, unearned income and transfer payments. The result is that you have to be too poor to own a house to get the
    exemption!

  • TruthBKnown Banned Again02 Feb 20, 2008

    That stinks, too. Either way, something stinks!

  • baracus Feb 20, 2008

    "You mean nobody's tax value dropped during the revaluations? Something smells really bad here."

    I am sure some probably did. I was speaking more to the issue of them trying to get the assessments done before the housing prices dropped like it was some king of conspiracy to bring in more taxes.

    They set the tax rate based on the total assessments. If they did the assessments this year, they would probably just have a higher rate. Some people with high end homes might be better off, but those of us in the middle to lower end might have ended up with even bigger bills.

  • TruthBKnown Banned Again02 Feb 20, 2008

    "But if the assessments came in lower they would have just kept the tax rate higher. In the end, they can just take us for whatever they want."

    You mean nobody's tax value dropped during the revaluations? Something smells really bad here.

  • baracus Feb 20, 2008

    "This whole thing was a scam from the getgo. The county knows property values are dropping as the nationwide real estate market drops. They hurried and re-evaluated everybody before this could happen."

    But if the assessments came in lower they would have just kept the tax rate higher. In the end, they can just take us for whatever they want.

  • TruthBKnown Banned Again02 Feb 20, 2008

    This whole thing was a scam from the getgo. The county knows property values are dropping as the nationwide real estate market drops. They hurried and re-evaluated everybody before this could happen. Now our tax values are overvalued, and the actual values will continue to drop.

    I didn't appeal in time, but I think I will soon for next year.

  • SteamTrain Feb 20, 2008

    Ahh...School taxes are included with the county. Missed that. So we are all still waiting for are the municipalities to set their rates before becoming outraged again.

  • Run_Forrest_Run Feb 20, 2008

    I think having to pay taxes on things you've purchased year after year is ridiculous. Think about it - everything you 'own' never really belongs to you - cause every single year; uncle Sam takes a piece of your income away to 'allow' you to keep it. I'm pretty sure our forefathers didn't mean for the middle class to be taxed to death. I truly wish I had the time to write down everything that I purchase (sales taxes), property taxes, Income Taxes, everything for a year to see exactly how little of my pay I actually get to keep. OK - a quick look at the savings account shows that amount...but I'd be willing to wager that the average person pays probably between 50 and 60% of their income in all these taxes and surcharges. Probably cheaper to stay home and not work.

More...