The 2022 revaluations for residential real estate in Guilford County have now been sent out and received by owners, and almost all of those owners are OK with the new – in almost all cases – higher assessments.
Or, at least, very few people have filed appeals with the Guilford County Tax Department.
Once every five years, the department assigns new values to all of the real estate in the county in order to bring those tax values more in line with actual real estate market prices.
The 2022 “reval” of all property in Guilford County came at a time when home values had been jumping, so tax officials weren’t sure what to expect this year when the new values – which will be used in property tax determinations – were mailed to homeowners last month.
The Tax Department is still finishing up the job of revaluing commercial property.
Guilford County Tax Director Ben Chavis said he was pleased with the low number of appeals on the residential side. He said only 0.5 percent of the 182,000 owners who received notices have appealed the property values assessed by the department.
“We have less than 1,000,” Chavis said of appeals. “Yesterday [Tuesday, March 22] was the deadline to complete and mail the Informal Review Form. Property owners still have until May 16th to appeal to the Board of Equalization and Review.”
While homeowners in Guilford County may like it when their property values increase, most would prefer the Guilford County Tax Department assign a very low value to their property since that will mean a lower tax bill this year as well as several years into the future.
Despite that, Chavis said some property owners this year contacted the department seeking a higher tax value.
Presumably, some believe that having a higher listed tax value will help the resale value of the home.