WINSTON-SALEM, N.C.-- After months of reappraisal work, the Forsyth County Tax Assessor says as a whole property values in the county have gone down nearly 11% in the past 4 years.
Tax Revaluation forms are being mailed this week and most are showing values 10% or more, significantly lower than 2009, the last time the county reevaluated property.
The property tax value is meant to follow the current real estate market rates, and the county reassess the value every four years to keep values current.
"We follow the market. Our appraisers follow the market and if it has increased over time then we will increase values, if it has decreased then we will decrease values," says John Burgiss, County Tax Assessor.
The breakdown of new values looks like this:
- 10,492 properties (7%) have higher value than 2009
- 54,008 properties (35%) decrease less than 10%
- 57,531 properties (37%) decrease between 10% and 25%
- 25,748 properties (16%) will decrease more than 25%
- 8,061 properties (5%) will not change in value
Property owners have until March 5th to file an unofficial appeal or until June 28th to file an official appeal. An appeals form and instructions are located with the new value notification.
Anyone with questions about their new property tax value can call the Forsyth County Tax Collector's office at (336)703-2300 or stop in to the office for an explanation.