Property revaluation rules head to public hearing Monday

Burke County property owners will get a chance Monday, Nov. 16, to weigh in on the rules and methods that will be used to determine property values in the countywide 2027 revaluation.

The Burke County Board of Commissioners will hold a public hearing during its 6 p.m. meeting on the proposed 2027 Schedule of Values and Present Use Schedule of Values. The documents will guide how county appraisers determine market values for real property as of Jan. 1.

Tax Administrator Travis Isaacs told commissioners at their Oct. 19 meeting that the Schedule of Values is essentially a “recipe book” for county appraisal staff.

It includes the methods, rate tables, and adjustments used to determine values for land, homes, commercial property, and industrial property, including factors such as location, quality, condition, and size.

Isaacs emphasized that the Schedule of Values does not set an individual property owner’s tax bill or even the final assessed value of a particular property.

“It’s not a revenue decision either,” Isaacs said. “It is just a redistribution of the value across the county in appropriate places.”

The Tax Office’s responsibility is to establish values as close to market value as possible, while commissioners will later determine the property-tax rate through the county budget process.

The revaluation also is not expected to affect every property equally.

Isaacs said housing prices rose to an average of about $273,000 before recently flattening to around $265,000. Housing inventory has increased to about a 4.1-month supply, while six months is generally considered a balanced market.

Vacant land has increased more sharply in some areas. Isaacs said lot and acreage prices rose from about $43,000 to $52,000 and at one point reached roughly $57,000, representing an increase of almost 21%.

Lake and mountain properties have generally appreciated faster than properties in some other parts of the county, he said.

“Some market areas will go up and some will go down and some will stay flat,” Isaacs said. “So it doesn’t mean your tax bill goes up or down.”

Burke County has 59,283 parcels. About 68% are improved or vacant parcels, while the remaining 32% are deferred or exempt properties, including property owned by entities such as government agencies, hospitals, and the national forest.

Following adoption of the Schedule of Values, the county will publish notice for four consecutive weeks. Property owners are expected to receive their new valuation notices around early February.

Those who believe their property information or value is incorrect will first be able to seek an informal review through the Tax Office. Appeals may later be taken to the county Board of Equalization and Review and, after that process, to the N.C. Property Tax Commission.

The Nov. 16 public hearing will be held at the Burke County Services Building, 110 N. Green St. in Morganton.