Wake property value notices go out

The Wake County Revenue Department received a trickle of calls after new property values were posted online Monday.

Starting today, Wake County property owners will receive the new values of their land in the mail. Out of the 312,000 notices sent Tuesday, 10 percent of the values are expected to be appealed.

"Monday is when we'll really get hit," said Ken McArtor, the appraisal and collection manager for Wake's revenue department.

Although property owners can check their new land values online, " a lot of people are waiting for their notice to arrive in the mail," McArtor said.

It is predicted that 30,000 to 40,000 property owners will file an informal appeal. The form, which is included in the notice, has a unique bar code tied to the revaluation designed to streamline the process. The form has questions for landowners that ask whether their property has had appraisal within five years, if the property has been for sale in the past five years or whether the property is unbuildable.

The letters are due to the county by the end of December. Based on estimates from the 2000 revaluation, 40 percent that send in the letter will receive an adjustment of 5 percent to 10 percent of the property value. Landowners receive notice 60 days after the deadline, close to the end of February.

From the informal process, an additional 3,000 to 4,000 will take their case to the Wake County Board of Equalization and Review. The more formal review process, which runs from April to June will have property owners present a more formal argument in person.

The final step for 300 to 400 properties will be an appeal to the N.C. Property Tax Commission.

The county has not determined whether it will adjust the tax rate to lower the income on the new values that will on average increase home values 43 percent. Wake and Durham County will decide early 2008.

Durham County's 97,000 revaluations began arriving this week. Kenneth Joyner, Durham County's tax administrator, estimates about 400 people so far have made appointments for an informal review. The primary concern has been disputes over the estimated square footage of properties, he said.

Joyner encouraged anyone with concerns to schedule a meeting with the tax office. Bring photos of the property, both internal and external, tax values of neighboring homes and, if available, a recent appraisal of the home. The additional review could take up to 90 days.

Applicants can file an appeal to the Durham County Board of Equalization and Review between January and May.

Cheryl E. Small, 50, of North Raleigh checked online Tuesday morning for clues about whether she might see a property tax increase next year on her 1,529-square-foot home.

"I just wanted to know where I was so I can budget my money," said Small, 50, an information technology specialist who lives off Louisburg Road. She bought the house for $159,000 in 2005.

The valuation was bumped up from about $136,000 to $172,618.

"I'll just plan for my tax to be $300 or $400 more and just hope and pray that's all it is," she said. "If it's more than that, it's going to be real tight, especially with gas prices and other things going up."

(Staff writer Matt Dees contributed to this report.)