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Property Appraisal - Real Estate

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2020 Revaluation

 

2020 Schedules, Standards, and Rules for Real Property Appraisal 

The Property Appraisal Office is responsible for the appraisal and assessment of all Dare County real estate for property tax purposes. The office maintains records on over 43,000 parcels of property in the county.

Appraisal staff assist taxpayers with questions about their residential or commercial property and visit properties to insure property characteristics are up-to-date.  Staff reviews building permits on-site; maintains sales data on property transfers; analyzes market data and construction costs; develops market based appraisal standards to be used for the duration of each property revaluation cycle; and visits, reviews and appraises all parcels during each countywide property revaluation.

Basis of Property Assessments *

The state of North Carolina requires that counties reappraise property at least every eight years. The purpose of a revaluation is to reassess properties at 100% of market value as of the revaluation effective date.

All Dare County property assessments are currently based on the Schedule of Values, Standards, and Rules adopted by the Dare County Board of Commissioners for the most recent countywide reappraisal which was effective January 1, 2020.  North Carolina law, NCGS 105-283, requires properties to be appraised at "true value", which is interpreted as market value. Revaluations must be conducted at least every eight years.

Property Assessment Appeal Procedures
Appeal a Valuation of Property

Property assessments can be appealed each year for the current tax year. Valuation appeals can be considered, based on the January 1, 2020 fair market value. Appeals must be made prior to the date that the Dare County Board of Equalization and Review adjourns for the year which, for 2020, is Friday, May 29. Whenever possible, Appraisal office staff review any taxpayer’s valuation on an informal basis before the Board of Equalization and Review meets. Taxpayers are not required to file an appeal informally; they may file directly with the Board of Equalization and Review if they choose.

The Board of Equalization and Review is a five member committee of Dare County citizens, appointed by the Board of Commissioners, who meet each year in order to hear appeals from any property owner who disagrees with the appraisal of their property or the property of others.  This includes real estate and personal property.  The Board has the authority to increase or reduce the appraised value of any property, or may choose to support the current value. If the market value of a property has either increased or decreased since January 2020, the assessment cannot be changed by the Board of Equalization and Review to reflect the change in the market since that date. The Board of Equalization and Review can consider only if a property is equitably assessed based on the latest countywide revaluation, and can change the assessment if the taxpayer can show that the assessed value is substantially different than the fair market value of January 2020.

By law, the Board must meet for its first meeting no earlier than the first Monday in April, and no later than the first Monday in May.  For 2020, the Board convened on Monday May 4.  Notice of the first meeting and adjournment date of May 29 was published in a local newspaper with general circulation in the county.  All meetings of the Board of Equalization and Review are open to the public.  Due to current complications in holding meetings, the hearings for appeals received by May 29, will not be scheduled until a later date, possibly late summer or fall, and may be virtual in format. If the property owner is not satisfied with the Board’s decision, they may appeal to the North Carolina Property Tax Commission, which also bases its decision on whether the property is equitably assessed.  An appeal must be made through the Board of Equalization and Review before one can be filed with the Property Tax Commission.

If you have further questions or would like us to review your property assessment, please contact our appraisal staff.

 * North Carolina General Statute 105-283, 105-286 and 105-287