Property Tax Appeals Attorney Raleigh: North Carolina Property Tax Appeals Lawyer

Property Tax Appeals

In compliance with state law, Wake County has re-evaluated all real property in the county for 2008. Taxpayers were notified of their new evaluations during the week of November 19.

North Carolina law requires each county to determine the “real value” of property. The “real value” of income-producing business and commercial property is the income that the property generates. In our experience, counties frequently fail to valuate business or commercial property properly, because they base their valuations on replacement value or sales of comparable properties, rather than on the income that the property generates. In several instances we have obtained reductions in the evaluations of commercial and business properties by requiring counties to base the evaluations on the proper criteria.

If you think your income-producing property has been substantially overvalued, you may be correct. You have the right to appeal that value to the county’s Board of Equalization and Review and, if you are still not satisfied, to the North Carolina Property Tax Commission.

The same appeal rights are available for residential property, but residential appraisals are not in error as frequently as income-producing property valuations.

If you think your property has been overvalued, take full advantage of the appeal procedures which are available to you. If you wish to seek assistance from an attorney, we would be happy to talk with you. During the past six years and currently, our attorneys Ed Gaskins and Louis Wooten have represented commercial and residential owners in three counties in appealing overstated valuation.