Counties Weigh Revenue Needs Against Tax Rate Levels As June 30 Deadline Approaches
As counties and municipalities continue to hammer out details for next year’s budgets that are set for adoption by the end of June, residents are awaiting news about whether their tax bills are going to go up. And if so, by how much.
The recent change in value notifications noted spikes in property values since the last revaluation in 2016, which city and county leaders in Vance and other neighboring counties had been quick to point out.
In simple terms, if property values go up (and they did, almost across the board), then the overall tax rate could go down and the amount of tax needed to fund budgets could stay at existing levels.
However, if there are additional projects above and beyond the routine expenditures, then the tax rate may need to be adjusted.
Vance County Manager C. Renee Perry said there have been 329 informal appeals made by property owners, and seven would be continuing on for further review by the Board of Review & Equalization – which is the board of commissioners – on Monday, May 6.
Upcoming budget work sessions would be the time and place to talk about revenue neutrality, she said.
Perry said she expects to send out this week details about an information session that will be held in the county to talk about the revaluation process.
Granville County held a similar event in early April and the Granville County Board of Commissioners is holding budget work sessions at the Granville Convention & Expo Center Monday, May 13, and Wednesday, May 15, and if necessary on Thursday, May 16. Each session begins at 9 a.m.
Granville County Tax Administrator Jennifer Short told WIZS News Wednesday that 1,013 informal appeals were fielded before the April 29 deadline; of those, only one so far will continue to the Board of Equalization and Review. The deadline for formal appeals is June 3, Short said.
“We are recommending anyone that wants to appeal to contact our office for an appointment date and time to ensure everyone is heard,” Short said in an email. “I would hate to chance someone having to come back because of the possible number of formal appeals and running out of time.”
Counties are scheduled to adopt the new tax rate in June and it would go into effect at the beginning of the new fiscal year, July 1.
According to information contained in a brochure explaining the process in Granville County, until the tax rate is set, it’s not clear how the revaluation numbers will affect individual tax bills.
In Franklin County, property owners have until May 20 to file a formal appeal. According to Franklin County’s Public Information Officer James F. Hicks, III, the vendor contracted to complete appraisals has indicated that “large tracts of land and any assessment that showed more than 100 percent increase would be reviewed again.”
The Franklin County Board of Commissioners will likely receive the proposed budget on May 20 and a public hearing will be in likely in early June., Hicks said.