Happy New Year to the citizens of Halifax County.
The time has come again for Halifax County to conduct its periodic countywide reappraisal. This is my first reappraisal as the Tax Assessor for Halifax County as I was appointed in the summer of 2015 which was a few months after the last reappraisal.
You should be receiving soon your real property listing form which this year doubles as your revaluation notice.
I wanted to take an opportunity to provide you with information regarding the revaluation process and possibly answer some frequently asked questions.
Included with your notice is an insert that includes similar information and topics.
A revaluation, also referred to as a reappraisal, means that the local property tax officials are updating the value of all real property across all of Halifax County.
We do this by determining the market value of all real property as of the effective date of the reappraisal which is January 1, 2020.
Our last reappraisal was January, 2015. and now our subsequent appraisals will be every four years.
Our Halifax County Board of Commissioners adopted to advance our revaluation to a four-year cycle to better match ever-changing market values.
I’m often asked what is the purpose of having a revaluation.
North Carolina law requires each county to conduct a revaluation at least every eight years.
The primary purpose of a revaluation is to equalize the tax burden among all classes of property and make sure assessments are at market value.
As defined in NC General Statute 105-283, market value 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.”
Auction or foreclosure are examples of sales that are not considered market value.
Per this statute, all properties in the State of North Carolina are to be assessed at 100 percent market value except for those properties receiving exemptions, exclusions and deferments.
What concerns most taxpayers is whether this reappraisal will increase their taxes.
That is often a hard question to answer because your tax bill depends upon two factors: 1) how much did the property value change from last year and 2) how much will the tax rates change. Tax rates for all jurisdictions in Halifax County must be adopted by July 1st each year. These rates will be determined during the budget process for each jurisdiction.
It is important to note that our 2020 reappraisal was conducted by employees of Halifax County, not an outside appraisal firm.
Over the past couple of years, you may have seen our tax appraisers in your neighborhood collecting and confirming property data.
Once this data is compiled, we combine it with building and land cost information, which is analyzed by the Assessor and then adopted by the Halifax County Board of Commissioners as the 2020 Schedule of Values.
Depending upon the type of property being appraised there are several methods we use to determine value: Sales Comparison Approach, Cost Approach and Income Approach. Halifax County utilized all three approaches during this revaluation.
If you disagree with your new tax assessment, the procedures for filing an appeal with the Halifax County Tax Assessor are outlined below for your information and assistance.
- In your written appeal, provide your PARCEL ID and your opinion of value. Also, please include all contact information including your phone number and mailing address.
- The taxpayer has the burden of proving that his/her property was incorrectly valued by the Tax Department and that the tax value substantially exceeds the true market value of the property as of January 1, 2020.
- Helpful information includes, but is not limited to, a copy of a recent appraisal of the property, comparable property sales information of like properties, proof of damage or disrepair, proof of termite or moisture damage from a licensed company or other information that will substantiate your objection to the value. Statements of income and expenses for income-producing property and replacement or reproduction costs will also be accepted for review.
- At any time during the appeal process, the appraiser may revisit the property to verify tax information. This may include re-measuring and photographing the property.
- The failure of the taxpayer to formally appeal in writing and to supply any additional documentation for the appeal prior to the hearing date will result in a dismissal of the appeal. All taxpayers are urged to provide the Tax Assessor with all information about the appeal prior to the hearing in order for him to have a meaningful opportunity to respond and to potentially adjust the values prior to the hearing.