The New Hanover County Tax Department has completed its 2017 Tax Revaluation for all properties in the county. Residential property value notices have been mailed to residents and commercial property value notices will be mailed by March 1. Residential property values can also be viewed online.
The revaluation’s purpose is to fairly reflect the value of all property and to help ensure that property owners pay equitable tax based on the value of their property. The new values became effective on January 1, 2017.
Additional information about the 2017 Tax Revaluation and the steps to appeal your property value can be found in the FAQs below.
The primary purpose of a revaluation program is to fairly reflect the value of all property in the county. A revaluation provides equalization among all property owners, as well as among all classes of property across the county. North Carolina law requires each county to conduct a revaluation at least once every eight years. The last revaluation in New Hanover County went into effect in 2012. Starting with the 2017 revaluation, New Hanover County will be implementing a four-year plan for its revaluation programs to better reflect changes in market conditions that exist in the county. This process will help ensure that taxpayers are paying appropriate taxes for property, based on the changing property values that occur during periods of growth or economic downturn. The revaluation program is not intended to increase revenue for the county. It is in place to ensure that each property owner pays their fair share of the cost of services rendered by local government, based on the value of their property.
New Hanover County went to great lengths to get a true and accurate value of each property in the county. For the past two and a half years, New Hanover County tax appraisers have visited each residential and commercial parcel in the county. They photographed properties, educated citizens, took measurements, and evaluated improvements or deteriorations to the property. The appraisers reviewed and assessed 104,428 parcels and used proven methods for analyzing comparable properties and other factors affecting property value. Each property was appraised using the same method, applied uniformly across the county.
In September of 2015 and again in December of 2016, the Tax Department mailed out Property Tax Questionnaires to every property owner in the county, in order to confirm their property information. The questionnaire was also made available online. Its purpose was to verify square footage, number of rooms and bathrooms, and other important details. All of the completed questionnaires were reviewed by staff, and follow-up calls and visits were made when necessary to address concerns and to make sure property information was accurate. From all of this information and thorough extensive research, New Hanover County’s appraisers were able to determine the value for each property.
The New Hanover County Tax Department mailed out the 2017 Notice of Assessed Values on February 17, 2017 to all New Hanover County residential property owners. Commercial property values will be mailed by March 1. This notice will inform taxpayers of their new property values for the 2017 tax year. The notice is not a tax bill. Tax bills will be mailed out in August 2017.
Residential property values can also be viewed online.
Since property taxes are based on value, it is important to have all property valued periodically on a uniform basis, using a modern system of valuation. Property values change with time. Some values go up, some go down, and others remain static. Appraisals must be updated or inequities in tax distribution will result. For instance, property valued at $150,000 in 2012 might now be worth $172,000, or the property could have declined in value to $135,000. In either case, the 2012 assessed value of the property is obsolete and will result in the property owner either paying too much or too little of his or her share of the tax for the operation of local government. New Hanover County’s revaluation will make sure people are paying taxes fairly, based on their current property value.
Before assuming that the value of your property is incorrect, you are advised to check into the current selling price of comparable property in your area.
If you feel the assessed tax value is not in accordance with comparable properties in your area or if you feel that New Hanover County has inaccurate information about your property’s size or features, you can appeal the revaluation of your property. View the steps to appeal in the question below.
1. To begin the appeal process, complete the appeal form online at www.tax.nhcgov.com/forms or complete the appeal form that is attached to your revaluation notice sent in the mail. If mailing in the form, please mail it to the New Hanover County Tax Department, ATTN: Appraisal Department, 230 Government Center Dr. Suite 190, Wilmington, NC 28403.
2. Informal Appeal Process: The appraiser responsible for your area will review the appeal information that you have submitted. After review, you will be sent a notice with the informal review decision, with your property’s assessed value (note: a notice will be sent even if the value remains the same). If you agree to the value after the informal review decision is made, you must send a written notification to the Tax Department (via email or mail) that you agree with the value so that your appeal can be closed.
3. Formal Appeal Process: If you do not agree to the value after the informal review decision and you still believe that the real property value estimate is incorrect, please notify the appraiser handling your appeal by phone, email, or mail, that you still disagree. Your informal appeal status will then be changed to the formal appeal status and you will be scheduled for a hearing before the Board of Equalization & Review. You will be sent a notice notifying you within 10 days of your scheduled hearing to present information as to why you feel the value of your property is incorrect.
4. If, after appealing to the Board of Equalization and Review, you are still dissatisfied with the outcome, you may appeal to the Property Tax Commission in Raleigh, NC. Information on how to submit your appeal will be included in the decision notice from your Board of Equalization hearing. The Property Tax Commission is located at 501 N. Wilmington Street, Raleigh, North Carolina 27604 in the Revenue Building.
5. The final method for appeal is to the NC court system.
The new values became effective on January 1, 2017 and will be reflected in the tax bills property owners receive in August of 2017.
At this time, the effect of revaluations on tax bills is unknown. There are three factors that determine how much tax each property owner must pay:
The revaluation’s effect on your tax bill cannot be determined until operating budgets are adopted and the governing bodies have set tax rates for New Hanover County and the various municipalities. Budgets are adopted and tax rates are set prior to July 1 each year. Historic tax rates can be located here.