Purpose of Reappraisals
Learn about the reason reappraisals are conducted:
- Creates an imbalance that worsens over time
- Octennial System - G.S. 105-286(a)
- Personal Property is assessed annually at market value
- Real estate values change over time, but not uniformly across the county
- Real property is assessed every eight years
- Reappraisals are required by North Carolina law
- To appraise real property at market value
- To re-equalize the tax base
Find out how the reappraisal is conducted:
- Continuing Sales Analysis
- Every real estate transaction resulting in a change of ownership is reviewed
- The sales price and terms of the transaction are verified
- True "arms-length" transactions are qualified and placed in our sales file
The Market Value Standard
G.S. 105-283: All property, real and personal, shall as far as practicable be appraised or valued at its true value in money.
Market Value is the Most Probable Price - not necessarily the highest, lowest, average, or actual sale price
True Value in Money
The price estimated in terms of money at which the property would change hands between a willing and financially able buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of all the uses to which the property is adapted and for which it is capable of being used.
A qualified sale is a sale between unrelated parties, it is not a forced sale, such as a foreclosure. No advantage is being taken by the buyer or seller and both parties recognize the present use and the potential use of the property. There must be reasonable exposure in the market.
The county is divided into approximately 124 appraisal neighborhoods. Reviews are conducted on a neighborhood basis with a sales analysis being conducted using sales from within the neighborhood.
Three Approaches to Value
View the three approaches to value:
- Cost Approach
- Income Approach
- Sales Comparison Approach
Read the notification process for appraisers:
- Appraisers will complete this work as rapidly as possible.
- Basic revaluation information is included with the notice.
- Notices will be mailed to the most current owner at the best available mailing address.
- Some notices will show "value incomplete" due to building permits, parcel splits, etc.
- Valuation notices to be mailed on or before October 1, 2009.
Informal Appeals Process
Learn more about the informal appeals process:
- About 4% will call with questions, but will likely not appeal.
- About 6% will request a Anson County Informal Review form.
- All appeals within a neighborhood will be worked as a group.
- The Appraisal Support staff will "log" the request for a review form in the computer.
- The Assessors office will print and mail the form by the next business day.
- The form will display parcel data in a way that encourages the property owner to compare his data with ours.
- The forms and supporting data will be filed by neighborhood.
- A majority of property owners will likely accept their new value without contacting the Assessor’s Office.
- The property owner should submit the Informal Appeals Form along with supporting data within 30 days.
- The vast majority of appeals will be resolved through this process.
Forms may be requested by calling 704-994-3290.