If you think your Wake County property is less valuable than the taxman claims, now is the time to say so.
Wake County has launched its 2015 review of tax valuations, which offers property owners the chance to appeal the valuation of their lots.
Appeals are due by early April – no specific date has been set yet – and will be heard by an appointed board.
Keep in mind that the county will be looking at your property’s value in 2008, when it last reassessed property values. That means that factors from the last eight years – such as changing market conditions – will not be accepted as evidence, according to Marcus Kinrade, Wake County revenue director.
All owners may ask for a review of their property’s value, but the routes to that appeal can differ.
• If the county has changed your property value since last year’s round of tax billing, then you may start with an informal review. In that case, a county appraiser will look over your case and possibly adjust your property’s value. If you’re eligible, call 919-856-5400.
• If your property value hasn’t changed, or if the informal review didn’t satisfy you, you can still request a formal hearing before the Board of Equalization and Review. To begin this process, call Wake County’s offices at the same number, or send a signed letter stating your opinion of your property’s value, along with any documentation proving your point.
Appeals board appointed
About 350 people applied for an appeal last year, but only 100 ultimately went to a hearing. Some might have accepted a compromise with county staff, and some discovered they didn’t have much of a case.
Ultimately, the county agreed to reduce their collective assessed value by $62,166,000, according to Kinrade. If all those people lived in Raleigh, that would amount to about $600,000 in county and city taxes.
The board that hears these cases was appointed this week by the Wake County Board of Commissioners. Its chairwoman is former county commissioner Lindy Brown, serving with John Converse, Kenneth Gardner, Merrie Hedrick and Michael Weeks.
There’s also a team of alternates, who can fill in for regular members as needed. Their names are very familiar in Wake County government: Joe Bryan, Paul Coble, Rich Gianni and Phil Matthews were the Board of Commissioners’ Republican majority until last December.
Tax appeal will be a much hotter topic next year, when the county reassesses the value of hundreds of thousands of pieces of property.