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.
If you read NextDoor app you’d see everyone freaking out. Not enough time to appeal.
I believe in contributing to the cause by means of taxes but my property tax was increased by 75%!
I’m sorry, but I think that’s quite a big leap in one assessment. I love living in Guilford County but surely there is a fairer way to make increases.
You shouldn’t base the value of a property on what is happening in the current (crazy) market when it could just as easily decrease at the drop of a hat.
Uhhhh….we would all be appealing if we thought it stood a chance. My property tax went up over $1000 and is now valued higher than I bought the place for in 2021. But in this market, it’s hard to find grounds for appeal.
This is why I built a house in SC. Leaving this communist state and city, county I grew up in.
It is possible they low balled the revaluation so as not to catch too much grief. Later this year, State Dept of Revenue will conduct Sales Ratio Study to measure average ratio of tax value vs market value. A ratio well under 100 would mean a definite low ball reval for 2022.
My property value increased by over 27% and I called to complain – I was told that this was determined by an algorithm using values of homes in my area that had sold recently. When I pointed out that no houses close by had sold recently in my price range they could not identify any that had been used for comparison. My neighbors that have appealed in the past actually had to pay more in taxes as the person that evaluated the property determined that their property had been undervalued – it seems they were penalized for requesting the re-evaluation.
We are both on SS, neither of us work. We have some savings, but things like cars, refrigerators, INFLATION deplete them PFQ.
This bigger tax bill will speed us out of our home if we live too long. Sell the house and everything else, move to a small apartment, and wait to die.
We worked a long time, and thought we’d be OK. Pensioners, the lower and middle classes, are being wiped out. Our govt is responsible for all this.