Quick Reference Guide for the 2006 Revaluation

Why revaluation?
The primary purpose of the revaluation is to arrive at a fair market value of all real property for use in deriving property taxes. The idea is for tax value and sale value to equal. This is called 100% true market value.

The County Assessor's Office or the Commissioners do not "create" the value of your property. People define values by their transactions in the marketplace. The Assessor's Office simply has the legal responsibility to study those transactions and appraise your property accordingly.

Avery County has completed an in-house revaluation of all real property. Advice from outside sources has been taken into consideration while completing the schedule of values and in the valuation of commercial properties. Utilizing the employees of the Assessor's Office as opposed to outside appraisal companies, assures that the project is conducted professionally as well as in a fair and equitable manner.

Statutory Requirements:
The property tax in North Carolina is governed by Subchapter II of Chapter 105 of the General Statutes of North Carolina. (Also known as the Machinery Act)
The machinery act requires each county to revalue real property (land buildings and other improvements to land) at least every 8 years. The act also requires the counties to appraise real property uniformly at its true value in money. True value in money is the "price estimated in terms of money at which the property would change hands between a willing and financially able buyer and a willing seller", neither being under any compulsion to buy or sell and both having reasonable knowledge of all the uses to which the property is adapted and for which it is capable of being used. (NCGS 105-283)

Market Value is not always the price for which a realtor may list the land, nor is it the price for which a father may sell his son a piece of land.

You may feel this should have no effect on you because you may have owned your property for many years and it is not for sale. You will be affected because the machinery act requires the counties to appraise real property uniformly. If comparable properties in your community are being sold in the $80,000 range and there are no significant differences between your property and the comparable properties, it is reasonable to believe your property may be worth $80,000. It would not be fair to assess taxes on neighbors who recently purchased their property at $80,000 and assess your taxes at $40,000, because you paid $40,000 for the property twenty years ago...

When will the assessment be effective?
The new values will become effective January 1, 2006 and will be reflected in the tax bills you receive in September 2006

What will the tax rate be?
Budget needs / Assessed Value = Tax Rate
Keep in mind that if the assessed value is increased, the tax rate should decrease in a proportional amount if the budgetary needs of the County DO NOT increase.

What has sold?

The sales ratio is the % of taxable value of the property and what the property sold for, however, there is no set percentage that properties increase in value. The ratio would be at 100% to be at true market value.

What if I do not agree with my property value?
Near the end of the year 2005, you will be mailed a notification of the new value of your real property. If you do not agree with the value, follow the instructions on that notice to request a review.

Your goals at this informal review- WHICH IS NOT AN APPEAL - should be to;

And what if I'm still not satisfied?
The Board of Equalization and Review is the official assessment appeals board. This board meets each year between the first Monday in April and the first Monday in May. The Board, upon written request, will hear any and all appeals concerning the assessed value of real property in Avery County.

How to appeal your assessed value and what is the Board of Equalization and Review?
If the taxpayer is not satisfied that their value is 100% market value, and you have gone through an informal review the next step is a formal review.

The Board of Equalization and Review is the official assessment appeals board. This board meets each year between the first Monday in April and the first Monday in May. The members of the Board of Equalization and Review can consist of members of the Board of Commissioners. However, Avery County has appointed a special board of non-biased, non-politically connected, taxpaying citizens. It is believed that this appointed board would have no personal or political reason to unjustly lower or raise any taxpayer’s assessment. The board, upon written request, will hear any and all appeals concerning the assessed value of real property in Avery County.

Your appeal is more likely to be successful if you present evidence that comparable properties in the same community are appraised for less than yours. Copies of property record cards on your comparables, with records of their assessed values or sales prices are your best defense. The appeal board will be interested only in the fairness and accuracy of the value placed on your property, not whether you can afford to pay your taxes or whether taxes are too high.

To acquire property record cards or an application for the Board of Equalization and Review you may come to or call the Avery County Tax Assessor’s Office where one of the staff members will assist you. Our office hours are 8:00am to 4:30pm and our office phone number is 733-8214.

Don’t forget the 2006 listing period is the month of January. Listing forms will be mailed out by January 1, 2006. The following items are what need to be listed on your listing form and returned to our office by January 31, 2006:

The responsibility to list property for taxation is solely on the taxpayer, even if you do not receive a listing form by mail. If you need a listing form, please contact the Tax Assessor’s Office. The listing period is also the time to apply for Tax Relief.

Elderly Exemptions and Disability Exemption:
In order to apply for an elderly exemption you must be an Avery County, North Carolina permanent resident, who is 65 years of age or older as of January 1, 2006 or totally and permanently disabled and your total disposable annual income can not exceed $19,700.

You can receive an application one of three ways;

Present Use Value / Farm Use Program:
If you are actively farming your land and receiving income from it, you may qualify for a deferred tax amount. Call or come by our office get an application and a list of criteria that you must meet to qualify for the Present Use Value / Farm Use Program.