Evelyn Hesch: Inherent tax increase

October 5, 2013 

Inherent tax increase

Your Sept. 28 editorial “Anti-bond mania” in favor of the school bond vote stated that Wake County has not raised taxes in five years. However, the last time real property value was assessed was Jan. 1, 2008, at the height of the real estate market.

Since that time the fair market value of property in Wake County dropped drastically, but properties were not revalued to reflect this drop. These properties will not be revalued until 2016. When residents of Wake County pay real estate taxes on inflated values, that constitutes a tax increase. Hopefully, property owners will recognize this. How many of us can sell our property today for the value listed on our September 2013 tax bill?

Evelyn Hesch

Cary

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