Revaluation Services
Charlotte Public Relations has partnered with Carolina Revaluation Services to provide Real Estate Advocacy to commercial property owners needing guidance with the property tax valuation appeal process.
Carolina Revaluation Services has a team of seasoned real estate property attorneys who work with CLT Public Relations in assisting commercial property owners with their revaluation appeals.
Property Revaluation Services
The formal property appeal process is quasi-judicial and has specific and formal rules. Individuals are allowed to appeal without an attorney to the Board of Equalization and Review, but corporate businesses must have an attorney, someone designated as an officer or responsible party, or an individual with a power of attorney represent them.
North Carolina has a single tax rate for both residential and commercial properties. Properties are reevaluated at least every 8 years according to state law; however, revaluation frequency varies by County. Property Tax rates are set by both Cities and Counties. All municipalities must publish the revenue-neutral tax rate before setting an adjusted tax rate. Reevaluated property values can be appealed informally to the County Assessors Office or formally to the County Board of Equalization. A further appeal can be made to the NC Property Tax Commission.
How The Revaluation Process Works
Property Assessment
The County Assessor’s Office reevaluates every property parcel in the County in order to assign a new assessed value, which became effective January 1st of the valuation year. Once the entire county has been assessed, the County Assessor’s Office mails each property owner the new assessed value.
The County Board of Commission sets an adjusted property tax rate when adopting the fiscal year budget. Before the Commission can set an adjusted tax rate, they must notify the public of what the revenue neutral tax rate would be for the pervious fiscal year’s budget.
Informal Appeal
Property owners have the right to informally appeal their new assessed value directly to the County Assessor’s Office. Typically, the County allows thirty days for appeal once the new assessed value has been received by the property owners. An informal appeal is not necessary to file a formal appeal.
Formal Appeal
Formal appeals are made before the County’s Board of Equalization and Review (BER) in an quasi-judicial hearing. Each County sets a schedule determining the required timeframe to file a formal appeal.
Further Appeals
BER decisions can also be appealed to the North Carolina Property Tax Commission. After receiving a written decision from BRE, the property owner has thirty days to issue a Notice of Appeal and Application to the North Carolina Property Tax Commission. Both the property owner and the County have the right to appeal the Property Tax Commission decision to the North Carolina Court of Appeals. Decisions made by the North Carolina Court of Appeals can be appealed to the Supreme Court of North Carolina under certain circumstances.
Frequently Asked Questions
+ How do I know if I should appeal or not?
If you recently purchased the property and the new value is less then the purchase price, it is not in your best interest to appeal. However, Contact Us for a free consultation.
+ Do I need to be physically present to file a formal appeal?
No, you can hire representation on your behalf to attend the appeal hearing.
+ How much should I expect to pay for the appeal process?
You should pay nothing for unsuccessful appeals. On successful appeals, you should expect to pay significantly less then the toal property tax increase (over 4 years). Upfront costs are required for an updated third party property appraisal and initial retainer fee. Cost will vary at each level of the appeal process. Results are not guaranteed; however, only winnable appeals will be considered as candidates to move forward at each appeal process. The initial consultation is free - Contact Us
+ If I represented myself and lost the informal appeal, do I have to wait till the next revaluation to appeal again?
You are responsible for the property tax bill for the current fiscal year, but there may be options for additional appeals. Contact Us for a free consultation.
Contact CLT PR for information on our Real Estate Advocacy Services