Wednesday, March 6, 2013

Currituck County Tax Re-valuations to be mailed next week

In speaking with the Currituck County Tax Department just now, I was informed that they department hopes to have Currituck Property Owners new tax valuations in the mail by the middle to end of next week.  In that letter there will also be a new web address should you need to access information online.  The new website will bring enhanced features for property information in Currituck County.  Anyone needing a refresher on how/why NC Counties are bound to do these rreassessments, I copied this from the County website.

2013 Revaluation

Public Notice: Pursuant to N.C.G.S. 105-317 (c) the Currituck County Board of Commissioners hereby gives notice that the proposed schedules, standards and rules to be used in the 2013 reappraisal of real property in the county have been submitted to the Board of Commissioners and are available for inspection in the Tax Administrator's Office at 2801 Caratoke Hwy, Currituck, NC.

A Public Hearing will be held on the proposed schedules, standards and rules during the regular meeting of the Board of Commissioners on Monday, January 7, 2013 at 7:00 p.m. The hearing will be held in the Commissioner's room in the Historic County Courthouse.

Currituck is currently in the process of conducting a revaluation/reappraisal for Currituck County for 2013. Notices of the new values are expected to be mailed to taxpayers near the end of February 2013.

Pursuant to G. S. 105-286, all counties in North Carolina are required to conduct a reappraisal every eight (8) years. The majority of the counties, including Currituck County, conduct their reappraisals on this time frame, although a growing segment of counties conducts reappraisals on a shorter cycle.

Currituck County has revalued its' property every eight (8) years starting in 1965, the year of its' first revaluation/appraisal after the octennial schedule was imposed in 1959. The next scheduled reappraisal will be affective for the 2013 tax year.

During years that a general reappraisal is not conducted, G. S. 105-286 dictates that the real property shall be assessed at the value assigned during the last reappraisal. The assessor is limited by G. S. 105-287 to certain circumstances in which he may change the value of real property. These include correcting a clerical or mathematical error, or correcting an appraisal which resulted from a misapplication of the schedules used during the county's last general reappraisal.

The assessor is also permitted to increase the assessed value of real estate when a structure is built or improved, or to reduce the value if a structure burns or is destroyed. The value can also be revised when property had been taxed as having a certain number of acres and the actual acreage is determined to be different.

The assessor may not increase or decrease the appraised value of real property, to recognize a change in value caused by: normal physical depreciation of the improvements; economic conditions affecting the county as a whole; or minor improvements to the property such as repainting, landscaping, terracing, etc. The county may not change the assessed value to reflect a general increases (or deceases) in property values until the next reassessment.

A county may choose to conduct its reappraisal "in-house" utilizing their own appraisal staff, by hiring an outside reappraisal firm, by employing consultants to assist their staff appraisers or a combination of the above. During the 2013 revaluation the county staff will appraise the 4WD Fruitville Beach area of the county and the reappraisal firm Tyler Technologies will appraise the remainder of the County.