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Revaluation

What It Is
In every community, property values increase or decrease at different rates over time. Revaluation is a data-driven process that updates the market value of all residential and commercial properties in the county.

What It's Not
Revaluation does not set tax rates. Property values are determined by the real estate market through the buying and selling of property from the last revaluation to the current. Property tax rates are determined by the Board of Commissioners during the county’s annual budget cycle.

Why It Happens
Revaluation resets property values to their current market value so that the property tax burden is spread fairly among all taxpayers. Counties are required by state law to conduct revaluations at least one every eight years.

How It Happens
Revaluation is a county-wide process. County tax appraisers work to:

  • Verify the accuracy of characteristics on record for the property. Some of these characteristics include square footage, bedroom and bathroom count, condition of structure and exterior wall.
  • Research and analyze the sale of properties with similar locations, qualities and conditions.
  • Evaluate all the data to determine the current market value.

When the entire revaluation process is completed, all property owners receive a notice in the mail informing them of the new tax valuation of their property.

When It Happens
North Carolina law requires revaluations at least once every eight years. Catawba County, like many other counties, conducts a revaluation every four years. This shorter timeframe can help lessen the “sticker shock” that could come with major swings in the real estate market over longer periods of time.

Values determined by the current revaluation will be effective on January 1, 2023, and notices will be mailed to property owners that month. Based on the county’s four-year cycle, the next revaluation is scheduled for January 2027.

Property Tax Relief Programs
North Carolina offers three Property Tax Relief Programs: the Elderly or Disabled Homestead Exclusion, the Disabled Veteran Homestead Exclusion, and the Circuit Breaker Homestead Tax Deferment Program. Learn more about these programs here.

Appeals
The appeal process is available to any property owners who disagree with their property valuation. The first step is an office appeal. Office appeals that are not resolved may be appealed to the Catawba County Board of Equalization and Review, followed by the North Carolina Property Tax Commission and the North Carolina Court of Appeals.

Questions
Our staff are available to help answer any questions about the revaluation process and individual revaluation notices. We encourage property owners who have any questions or concerns to stop by or call our office at (828) 465-8436.

Some Common Questions

Revaluation is a lengthy process. As part of the process, appraisers review current information on record and then visit properties to verify accuracy. The appraiser may or may not actually drive onto your property or come to your door, depending upon whether he or she sees a discrepancy in our current listing data.

This is difficult to say for two reasons. It depends upon:

  1. How much the market value of the property has changed, and
  2. How much the tax rate changes. The Board of Commissioners set the tax rate annually, based upon the budgetary requirements of the County. Revenues received from all sources, including the State, are considered as the Board sets a tax rate. The definition of a revenue-neutral property tax rate in a year of a general reappraisal is defined in N.C. General Statute 159-11 (e).

Each year, tax bills are normally mailed in July or early August and are due September 1. Taxpayers have through January 5th of the following year to pay before interest accrues.

After a revaluation is completed, a property’s value can only be increased or decreased before the next countywide revaluation if there are physical/zoning changes to the property or if there is a clerical, mathematical error, or misapplication of values in the listing of the property.

Examples of physical changes could include new building construction, new improvements and remodeling, demolition of structures or features, and subdivision of land. Property values cannot be adjusted for normal physical depreciation or economic changes affecting the county in general.

An independent appraisal performed and dated after the January 1st date of the last county-wide revaluation cannot be considered until the next countywide revaluation because the value was determined using market sales that occurred after the effective January 1st revaluation date.

The Schedule of Values is a set of standards and rules that assure all property will be appraised in a uniform, accurate and consistent manner. Catawba County’s Schedule of Values is specifically formulated by the Catawba County revaluation staff through an extensive study of Catawba County’s current real estate market and costs. It is used to set the new property values in the County.

The Schedule of Values is formally presented to the Board of Commissioners for approval prior to each real property revaluation.

Still Have Questions?
Give us a call at (828) 465-8436 or stop by our office any time Monday-Friday, 8 a.m.-5 p.m., to speak with a staff member.