Smithfield, NC – Johnston County appraisers and members of Pearson Appraisals are out in the county reviewing properties in preparation for the state mandated 2011 real property revaluation. Residential property reviews are nearing completion and commercial property reviews are underway countywide. Pat Goddard Johnston County Tax Administrator said, “All appraisers will wear county identification badges even if they are not driving a county vehicle. No one will ask to see the inside of your home, but citizens can request an inside visit if they feel an inside inspection is necessary.” In North Carolina, revaluations are required at least every eight years and Johnston County conducted the last revaluation project in 2003. Many counties have shortened the revaluation cycle to every four (4) years; however, Johnston County remains on an eight year cycle. Goddard said, “The main focus of any revaluation is to equalize values among properties. Some properties have increased in value more substantially than other properties. Everyone has heard value is location, location, location and some properties are in more desirable areas while other properties have remained the same or decreased in value.” When asked about the current market conditions, Goddard said, “The County looks at all valid sales and the sales will continue to be reviewed into late 2010 to determine value.” The local real estate market appreciated considerably from 2003 to 2007, but sales and growth have slowed since 2008. Notices of new value will be sent to citizens in late 2010 or early 2011 and informal appeals will begin first quarter 2011. The new values take effect on January 1, 2011.
I successfully fought a way out of whack evaluation last time. It can be done. I just mailed in comps and never even had to have that little hearing thing they do. I wish my house had been worth what they said, LOL.
Just don't procrastinate if you think they over-valued because there is usually a strict time limit on when you can fight it. My friend missed the deadline on hers in Wake County a couple years ago and pays way more than she really should.
Housing values in Johnston County have not dropped on par with national levels. We have not had a valuation since 03. All things considered I, wouldn't expect a large difference either way. You don't want your tax value to start dropping in my personal opinion, any more than you want it to shoot up all of a sudden.
That's the way it should work. The tax rate is set by dividing the budget by the total property value in the county, so theoretically it should not cause total tax bills to rise. Increases in the budget will do that. But revaluation may shift the tax burden, so some homeowners will pay more than before and some will pay less than before the revaluation, depending on how much their properties have increased in value since the last revaluation.
Do you think they increased the county budget by the amount of increased property valuation? I don't think so, but I could be wrong.
Oh snap! Here you go... http://www.co.johnston.nc.us/mainpage.cfm?category_level_id=1018&content_id=1000
