Real Estate Alert - "New Changes to the NC Property Tax Appeal Process"

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According to ancient lore, the Mayans have long predicted 2012 might bring the end of the world.  The Mayans may not be correct about that, however, it is a certainty that 2012 will bring changes to property tax values for property owners in Guilford County.  Starting in March, property owners will start receiving notices from the Guilford County Tax Department regarding the “new” assessed value for their properties in Guilford County.  As always occurs with a re-valuation, these “new” values are sure to stir controversy and dismay among property owners.  With that in mind, property owners should realize they do not have to just blindly accept the “new” values because they do have avenues to appeal the assessments.

5 steps for appealing a “new” value:

1. Contact the Guilford County Tax Department directly and ask for an informal meeting.

The tax department is already notifying the citizens it speaks to that it would rather be contacted by e-mail or regular mail than by phone.  If you do choose e-mail or regular mail, be sure to follow up if you don’t get a prompt reply.

2. If the informal process does not work, a property owner can go ahead and file a written notice of appeal with the Guilford County Board of Equalization and Review.

The written notice of appeal needs to be filed before the Board of Equalization and Review adjourns for the year.  The date of adjournment has not yet been announced by the tax department.  The hearing before the Board of Equalization and Review will be informal, meaning the testimony is not sworn and the rules of evidence do not apply. But, the property owner should attend prepared to argue her case.  Therefore, the property owner should have evidence with her as to why the assessment does not accurately reflect the fair market value of her property.  After hearing the evidence, the Board of Equalization and Review will determine whether the property has been appraised and taxed in conformity with statutory requirements...

Please see full article below for more information.

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Published In: Administrative Agency Updates, Civil Remedies Updates, Commercial Real Estate Updates, Residential Real Estate Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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