The room wasn’t packed, but there were plenty of residents at the Monday information session to learn more about the Vance County tax revaluation and appraisal.
The information was a review – nothing new – but Vance County Manager C. Renee Perry said revaluation can be a complex topic, so another presentation of the overall process, including legal requirements and more, may be something that county residents can learn from.
Property owners can contact the tax office for additional support, and staff is prepared to answer questions as they come in.
The main takeaway is that appeals may be filed until June 3, but the Board of Equalization & Review can continue to hear appeals through December.
Vance Tax Administrator Portia Brooks is creating flyersabout the exemption programs that are offered as well, like for the elderly and disabled, and also for veterans.
So if you’re new to the reappraisal process and you’re new to the appeals process and you’re feeling like that your property had an increase in value that you do not agree with, then keep in mind a couple of things based on the presentation today, downtown by the county and the tax office.
The notices that property owners received recently aren’t tax bills – they simply include new appraisal values. Until the board of commissioners sets the tax rate, property owners won’t know how much tax they’ll owe on their property.
The last revaluation was done in 2018, and many property owners saw their tax bills go down. This probably won’t be the case in 2024, but it all depends on whether commissioners choose a tax rate that is revenue-neutral. The Vance County Board of Commissioners will meet on Tuesday, May 28 to receive the proposed budget.
Not sure whether you should appeal your new appraisal value?
There’s basically a three-step process:
- review the information on file about your property at the Tax Office. You can view online to make sure the details are correct – number of bedrooms, bathrooms, etc. Or call the tax office to request a review of your property card.
- Compare your property to other properties that have recently sold. The revaluations are based on market value, so comps are important.
- If you still disagree with the reappraisal, you have to file the appeal online or in paper form and it needs to be received by June 3.
There also are programs that provide some relief for elderly, disabled and veterans. Visit https://www.vancecounty.org/departments/tax-overview/property-tax-relief-programs/ to find the necessary forms.
If you decide to appeal your revaluation, it’s important to bring supporting evidence with you. Think comparable prices if you’re appealing your home value. If it’s a business property, you’ll want to look at income and earnings.
But don’t go out and get another appraisal, because you won’t be comparing apples to apples. You’ll need a retrospective appraisal – one that looks at the property’s value as of Jan. 1, 2024.