North Carolina Law G.S. 105-286 requires that real estate be assessed at 100% of market value at the date of the last county reappraisal. Currituck County's last reappraisal was January 1, 2005.
The following ARE NOT valid grounds for a real estate appeal:
- A decrease in the market value of the property since January 1, 2005 due to inflation, deflation, or other economic changes that affect the general real estate market. (declining market)
- The assessed value is greater than the property's value (If after Jaunary 1, 2005)
- The amount of increase in valuation from the previous year.
- The amount of increase in taxes from the previous year.
- The amount of services provided or available to the property.
- A taxpayer's inability to pay the taxes.
Reductions in value will not be granted due to the decline in value over the past few years
The following ARE valid grounds for a real estate appeal:
- The assessed value is greater than the actual 100% market value on January 1, 2005.
- The tax appraisal is based on inaccurate data that materially affects the value.
- The assessed value is higher than the assessments of similar properties.
- A building or structure has been damaged, removed or condemned.
- Clerical or mathematical error.
Appeals must be in writing and should be filed by March 1st for any given tax year, but will be accepted if filed before the County Board of Equalization adjourns from taking appeals for that year. THE 2010 BOARD OF EQUALIZATION AND REVIEW MET ON MAY 17TH 2010 TO HEAR ALL APPEALS RELATING TO 2010 TAXES. THE NEXT OPPORTUNITY TO APPEAL REAL ESTATE ASSESSMENTS WILL BE FOR 2011. You may contact the County Tax Administrator on how you may appear before the 2011 Board of Equalization and Review. An appeal must include the grounds for the appeal and all evidence to support the appeal. Documentation showing sales data of comparable properties that sold near the last reappraisal date of January 1, 2005 would be considered good evidence. Appraisals would also be helpful, but the usefulness will depend on the how long before or after the reappraisal date they were completed. There are no special forms required to lodge an appeal.
Appeals can be Faxed to 252-232-3568; Emailed to taxadmin@co.currituck.nc.us or Mailed to: Currituck County Tax Administrator, PO BOX 9, Currituck NC 27929
Appeals will be reviewed by the Assessor's staff and the assessed value will be changed if a change in value is deemed warranted. The taxpayer will be notified of the Assessors decision on the appeal and will provide information on the taxpayer's options for further appeal to the County Board of Equalization & Review.
