Johnston County, NC Property Revaluation 2011, What Does It Mean For Your Tax Bill?
The Time Has Come!!!
It has been eight years since Johnston County in North Carolina reappraised the property base and North Carolina Law requires that a reappraisal be done at least every eight years. Revaluation is done for all residential, commercial and structures on land. It does not include personal property such as boats, RVs etc.
The reason for a revaluation is to update the assessed tax value on property in keeping with the most recent market value of the property.
The assessed value of your property is multiplied by the tax rate of the county, city the property is in and that amount is your tax bill.
The Market Value of your property is the price in dollars that the property would most likely sell for. It is not an average. The Tax Administrator works with property owners and real estate professionals to determine the market value of property and have been working on it for two years. In eight years the value of some property in Johnston County has sky rocketed and come back down to earth with a thud!! Other property has gradually increased in value over time and some property may actually have declined in value. Even still in eight years there will be property that will show no change in Johnston County.
Here are some important dates to remember.
December 2010 - Property owners will receive new assessment notices
Deadline for filing informal appeals - Within 30 days after receiving notice.
June/ July 2011 - County Commissioners and Town Boards set the tax rates.
August 2011 - 2011 real property tax bills mailed using new assessed values
September 1, 2011 Payment of 2011 taxes due.
What if you don't like the new assessed value on your property?
There is an appeals process but you will need to do your homework. There are certain items you will need to have in order to be successful in the appeals process.
You will need documentation that your assessed value substantially exceeds the market value of your property.
You will need documentation that the appraisal of your property is inequitable as it relates to the assessed value of comparable or similar properties.
If you have questions about your new assessed value you can call the
Johnston County Revaluation Office
Pearson Appraisal Services
(919)-934-0338
OR
The Johnston County Tax Administration
Pat Goddard, County Assessor
(919) 989-5130
If you would like to sell the property because of it's new assessed value, that's where I come in.
David O'Doherty
odohertyd@hpw.com
(919) 601-2268
