Revaluation process overhaul in Forsyth County
WINSTON-SALEM, N.C.– Winston-Salem Mayor Allen Joines, hundreds of homeowners, and state Representative Ed Hanes say recent property tax valuations in Forsyth County need to be re-examined or dropped.
More than 90% of homes in Forsyth County were valued lower than they were 4 years ago, some as much as 50% less.
Jimmy Bonham of the Winston-Salem Minister’s Conference says many people are worried about what the values will mean if they try to sell their homes.
“We see that the system is flawed. West of Highway 52 it seems the values reduced 4 to 7% , where as in our community east of 52, the values of real estate reduced from 40 to 60%. We are upset,” says Bonham.
“It seems to me there is not something quite accurate in those when have neighborhood go down 50 to 60% in value,” says Winston-Salem Mayor Allen Joines
North Carolina state law requires property revalued every 8 years, but many counties like Forsyth do it every 4. The goal is to get the tax value in line with true market value.
Real Estate agent John-Mark Mitchell says homeowners shouldn’t worry too much. “We’ve never used tax value as a real indication of what the value of the property is, it is not a direct indication of what something will sell for.”
Mayor Joines says the tax valuing system is flawed.
“If a real appraisal puts the value at something other than what the tax value is, then something is wrong in the tax appraisal,” says Joines.
Winston-Salem is offering help for citizens interested in appealing their most recent value. They are Monday, March 11th.
Workshops will be held from noon to 2 p.m. and 6 to 8 p.m. at the Georgia Taylor Community Center, 1471 W. Clemmonsville Road; the Carl H. Russell Sr. Recreation Center, 3521 Carver School Road; and the Sprague Street Community Center, 1350 E. Sprague St.