WINSTON-SALEM, N.C. — Tuesday is the deadline to appeal property tax values in Forsyth County. During the recent revaluation more than 90% of homes in the county were valued lower than they were 4 years ago, some as much as 50% less.
“They are deprecating our homes,” said Connie Wall. Her home dropped $60,000 in value, and is now worth less than she paid for it 25 years ago. “Somebody made a mistake.”
The Winston-Salem Ministers Conference organized several workshops Monday to help residents fill out appeal forms.
“I’m looking at people whose property started at $79,000 last year, that is $29,000 this year,” said Yolanda Hairston, a volunteer with the Minister’s Conference.
While some see the reduction in tax value as a discount on your property tax, many believe county leaders will make up the difference in higher taxes.
“You know what happens when we have a shortfall … only one place to go back and get more money, – from the people you’ve cut down to start with.”
County’s are required by state law to conduct reevaluations every 8 years. Forsyth County reevaluates every four years. County tax officials say the tax value is based on data like real estate sales with this latest reevaluation reflecting much of the housing market’s downfall in recent years.
State Representative Ed Hanes plans to push a bill through Raleigh that will allow homeowners to go back to their former tax value for the next four years.