Durham 2019 Property Tax Revaluation

Property Tax Revaluation

Durham is conducting a property tax revaluation in 2019.  In North Carolina, all homes must be appraised for tax purposes at least every 8 years.  Historically, counties throughout the Triangle have reassessed property values either every 4 years or 8 years.  Durham County has decided to undertake a new property tax revaluation on a 3-year cycle.

  • On January 1, 2019 the new property tax values will be effective.
  • On January 30, 2019, the County will mail all Durham County property owners with their new property tax values.
  • If a home owner disagrees with their new property tax revaluation, the Appeals Board Process begins. Appeals must be submitted no later than May 3, 2019.
  • In June Durham County and City will set their tax rates for the year. This is when homeowners will know their actual tax bills for 2019.
  • Durham will not reassess properties for tax purposes until 2023.

See below for detailed information about Durham Counties revaluation process and how to appeal Durham’s 2019 property tax values.Why Is Durham County Reappraising Property Values?

Q.  Why Is Durham County Reappraising Property Values?

A.   North Carolina (via General Statue 105-286) requires all counties to a reappraisal at least once every eight years. Durham County’s last reappraisal was performed in 2016.  The goal of reappraisal is to help ensure the county’s tax burden is distributed equitably based on current property values.

Q.  When Will The Reappraisal Take Effect?

A.  The Effective Date for the reappraisal is January 1, 2019.

  • A notice of the change of value will be mailed to homeowners on January 30, 2019.
  • The new values will be used to calculate the tax bills.
  • Your new tax bill will not be known until the taxing jurisdiction sets the budge in June 2019.
  • The new tax value will remain in place until the next reappraisal which is set for 2023.

Q.  What is Reappraisal?

A.  Reappraisal (also known as revaluation) is a process that resets the taxable value of all real property to its current market value. This includes vacant and improved land, whether residential, commercial, agricultural or industrial.

Q.  What is Market Value?

A.  Market value is the most probable price a property would bring in an open and competitive market. The Durham County Tax Administration Office analyzes the patterns and trends of the local real estate market and use the information to estimate market values for all properties.

Q.  Why is Durham shortening the reappraisal cycle from eight years to three years?

A.  Durham felt that if they waited for eight years to revalue properties, there would be more inequities and in the long run would lead to larger changes in tax values. A shorter cycle reduces the chances of this happening and helps make property taxes “more equitable, predictable and manageable.

Q.  Is There A Circumstance In Which Values Would Change Before A Tax Revaluation?

A.  There are a few important circumstances where a tax value would change before a reappraisal. These include new construction or a change in zoning.  When either of these occurs to an individual property, its market value is adjusted using the rates developed for the most recent reappraisal year.  For example, if a house is built in 2020 on a lot that was vacant in 2019, the new house and lot will be appraised using January 1, 2019 market values.

Q.  How Can You View The Information You Have On File For My Property?

A.  Visit http://www.dconc.gov/taxhelp. Type in your parcel number and click “Submit to Review & Compare.”

  • Go to Step 1 where you can review the information the County has on file. If any of the information is incorrect, request that the county change the inaccurate information.
  • You request changes by clicking on the “I would like to request Changes” button and provide the County with the accurate information about your property. DON’T FORGET TO PROVIDE YOUR CONTACT INFORMMATION.
  • Or, call 919-560-0300, to talk to County staff and provide them with the information.

Q.  How Do You Know If You Should Appeal?

A.  The County is revaluing properties BASED ON THEIR MARKET VALUE AS OF JANUARY 1, 2019. If you think the 2019 appraised values is too high, you should:

  • Contact your Realtor and have them run comparable sales and evaluate the new property value.
  • If the new County tax value is above the market value, you have grounds to appeal.

IF YOU THINK YOU WANT TO APPEAL YOUR TAX VALUE, YOU CAN RESEARCH THE COMPARABLE SALES USED BY THE COUNTY.  CHECK THESE OUT TO SEE IF YOU THINK THESE ARE UNREASONABLE.

  • Go to http://www.dconc.gov/taxhelp and type in your parcel number. Click “Submit to Review & Compare.”
  • STEP 1: Click on the RED button under the map labeled “Find Similar Sales.” OR
    • Go back to the “Tax Help” page and click on STEP 2 to compare
  • Once at the “Compare” page, you can refine the results by clicking on the buttons across the top of the map.

YOU SHOULD APPEAL YOUR TAX VALUE IF THE INFORMATION ABOUT YOUR PROPERTY IS INACCURATE CAUSING AN INACCURATE VALUE OR IF THE COMPARABLE SALES SHOW THAT THE COUNTY’S VALUE IS TOO HIGH.

Q.  How Can You Appeal?

A.  Before you appeal, the County wants you to do the research outlined above to have a true basis for the appeal. If you think the new tax value is incorrect:

  • Submit your update on line or call at 919-560-0300.
  • APPEALS MUST BE SUBMITTED NO LATER THAN MAY 3, 2019!!!!!! 
  • Appeals will be sent to the Board of Equalization and Review which is scheduled to begin meeting in April 2019. After the Board hears your appeal, they will send you written notification of their answer.  If you disagree with the Board’s decision, you will have 30 days to file another appeal with the NC Property Tax Commission in Raleigh.  Instructions for how to appeal to the NC Property Tax Commission will be provided in the letter from the Board of Equalization.

 Q.  Do You Need To Attend The Appeal Hearing?

A.    You can appear in person before the Board of Equalization and Review but it is not required. If you are unable to attend, the case will not be rescheduled, it will be heard on the scheduled date.  They will evaluate the information submitted and mail you the decision.

Q.  How Long Does The Appeal Review Process Take?

A.  Appeal reviews take between 30-120 days and largely depends on how many appeals are filed in a given neighborhood. If there is a large number of appeals within a specific neighborhood, then the process may take longer.

Q.  Will My Tax Bill Change?

A.  Not Necessarily. The annual tax bill for a property is based on the tax value AND the tax rate determined by the County.  The tax rate is determined by the taxing jurisdiction in June each year.  Some tax values will rise and some may decrease, it depends on the rate for your area in combination with the tax value.

Q.  Are There Any Property Tax Exemptions?

A.  There are some property tax exemptions in Durham. To see if you are eligible for any of the exemptions:

  • Choose “Property Tax Relief Programs”. The programs are:

Real Estate ExpertsFor more information or to ask questions about your home value, please contact Real Estate Experts at info@realestateexperts.net or call Jodi Bakst at 919-928-5131.