TO THE EDITOR:
Dear Orange County Resident:
As a lifelong resident of Orange County, I know that any discussion of the process of appraising land, homes and other buildings for tax purposes often generates questions among residents.
Such discussions also frequently include taxpayers’ expressions of frustration with, and confusion about, the assessment process.
It is our goal at Orange County to help our residents better understand the process and encourage you to ask any questions.
As you may know, at least every eight years North Carolina requires all its counties to conduct a property revaluation.
The market value of properties change, and in order to make sure each homeowner has a clear idea of what their property is really worth and restore property values as they have changed over the years, a new appraisal is necessary from time to time.
How is an appraisal done? Our appraisal team divides the county into 1,000 neighborhoods or so. These neighborhoods are groupings of properties that have many of the same characteristics and react to the market in similar ways. All real estate is appraised at “fair market value,” which is the most probable price a property would bring in a competitive and open market.
The Orange County Tax Office has been contacting property owners and getting its records updated for the 2017 revaluation. Feb. 29 is the deadline for submitting property listings. This is a 30 day extension, one granted due to questions about the form.
