Revaluation of property in Stanly well underway
Published 9:54 am Tuesday, February 2, 2021
The Stanly County Board of Commissioners received information from tax assessor Clinton Swaringen in regards to the upcoming revaluation of property in Stanly County.
Swaringen said the county is required by state law to revalue once every eight years but is currently on a four-year cycle “to maintain equitable and uniform property values across the county quicker and faster.” The last revalue came in 2017.
He said the tax office works to “reflect the fair market values for all properties inside Stanly County,” of which there are approximately 40,000. Data for the revaluation comes from taxes on deeds and multiple real estate listing services.
Swaringen said most properties will go either up or down in value, but will mostly likely not remain the same.
Places like Locust, with its amount of new construction and growth along with its proximity to Charlotte, will probably increase faster than Badin, he said.
The actual tax rate, the other half of the equations, is set every June by the county’s Board of Commissioners. Each property’s value multiplied by the tax rate determines what citizens pay in property taxes.
Property taxes can increase depending on what the governing boards of the different municipalities and fire districts determine are needed. The county’s budget, Swaringen said, is more than 50 percent made up by property taxes.
Charles Johnson, real property supervisor for Stanly, said mail notices for revaluation normally go out in February, but because of the COVID-19 pandemic the notices will probably be delayed to mid-March.
Once landowners receive notices, time will be available for citizens to appeal the revaluation informally first with the tax office within 30 days of notice. If landowners are not satisfied with that appeal, a Board of Equalization appointed by county commissioners will rule on formal appeals.
Johnson said taxpayers wanting to appeal the revaluation should bring pictures of damage to interior structures, independent appraisals or other documentation to argue their case.
“I need something to base the decision on,” Johnson said.
Citizens can also contact the Property Tax Commission in Raleigh if they are still unsatisfied with the decision of the equalization board.
Swaringen said his office will have a dedicated phone line for those who need to ask a question. He asked taxpayers who are not happy to call his office before contacting a county commissioner because “it’s something that we likely can help them with or work out.”