Fiscal Uncertainty and Recession Could Result in More Property Tax Appeals


The downtrodden real estate market could have a significant impact on the number of real estate tax appeals lodged by property owners in some North Carolina counties. Under state law, counties are required to conduct county-wide revaluations every eight years, although some counties may choose to revalue more frequently. For 2011, approximately 29 counties were scheduled to revalue real property as of January 1, 2011, including larger counties such as Mecklenburg, Johnston, New Hanover, Catawba and Brunswick.*

With property values declining, especially in coastal communities, local governments will be forced to either raise tax rates or get by with less revenue. As a result, and in an effort to maintain revenue levels, the new valuations assessed by counties may not fully take into account the significant impact the recession has had on property values. Accordingly, the new values assessed in 2011 could be significantly higher than the actual, true market value as of January 1, 2011 and could result in an increased number of tax appeals for 2011.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

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.

© Poyner Spruill LLP | Attorney Advertising

Written by:


Poyner Spruill LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.