The Guilford County Tax Department may have posted the new value of your home online by the time you read this.
You might be glad to know that it’s probably worth a lot more now than it was five years ago – the last time the Guilford County Tax Department conducted a countywide revaluation.
However, the bad news is that that means you’ll be paying more in property taxes in 2022 – even though the county’s tax rate is unlikely to change this year.
On Wednesday, Feb. 23, Guilford County Tax Director Ben Chavis said that the new values were ready to be posted online.
The county’s longtime tax director said the new values would be posted “either today or tomorrow.”
“We’ll send out a press release ahead of residential property owners receiving their reappraised value,” Chavis added.
Originally, the department planned to have those numbers out closer to Valentine’s Day. However, it’s a massive process every five years when the county’s Tax Department, along with some outside help, takes a fresh look at, and places a new value on, every house, building and plot of land in Guilford County.
Property owners’ new tax bills, which will come out in July, will be based on the new values and the county’s tax rate determined when the county adopts a fiscal 2022-2023 budget in June.
A white hot national and local real estate market over the last two years has significantly increased property values in Guilford County and across the country. Many houses that are put up for sale in Guilford County right now sell as soon as they go on the market – or sometimes even before they do – and many sell for above the asking price and have multiple offers. So, it’s easy enough to sell your house and make some good profit, however, if you do, good luck finding another house to buy.