Hurts, doesn't it? I got my love letter from the Cabarrus County Tax Assessor today as well.
Folks who live in Concord, Harrisburg, Kannapolis, Mount Pleasant, and Midland NC are feeling the pinch tonight. You see, in North Carolina, very often our tax values lag market values. It's the natural side effect of the amount of new construction in the area-the tax office can barely keep up with new builds, much less resale homes!
But the North Carolina general statutes try to keep the local counties in line by requiring that re-assessments occur at least every 8 years. (You know, market values can change a LOT in 8 years!).
So here we are. Letters arrived today at many households. And folks, the formula used to arrive at your tax value isn't perfect. You may find that the tax value is still below market value (celebrate the savings!), or you may find that the county thinks your home is worth more than a normal buyer would pay.
IF you find yourself in a position where you aren't sure of the validity of the number, and you'd like a professional opinion about the true value of your home, feel free to call or email Leigh Brown for some helpful information.
I'm a local homeowner, too, and I'm glad to help my neighbors!
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