When residential property values jumped 38 percent in Wake County between 2000 and 2008, some 27,500 property owners appealed those assessments from the county. That made for headaches for them – and for county officials who had to process those appeals.
To take a bit of the sting out of reassessments, required by the state to be done every eight years, Wake commissioners are considering doing appraisals every four years. It’s a good idea. It would bring property owners up to date on their values, and it would lessen the effect of tax value appraisals, sometimes called “sticker shock.”
And the county would get additional revenue, which is needed. Those homeowners who believe their taxes pay for all of the services they receive are woefully mistaken. The county has to rely on other revenues to provide fire, law enforcement and maintenance on property and to employ government workers who help residents deal with day-to-day questions and problems. And as has been shown many times, the county’s property tax rate, relative to other places in North Carolina, is low, lower, for example, than Guilford County (Greensboro), Durham County, Forsyth County (Winston-Salem) and Mecklenburg County (Charlotte).