Property Tax Appeals on the Rise
As the economy has faltered, individuals and businesses alike have been forced to take a closer look at their bottom line. As expected, the number of property tax appeals reflects that reaction.
As reported by Lee Weisbecker in the Triangle Business Journal, appeals to the North Carolina Property Tax Commission averaged just 793 annually throughout the 2000s. In 2011, there were 1,263. That number was a forty year high. We think the Property Tax Commission might be in for another record year for 2012.
We wrote in another post that 19 of North Carolina's 100 counties were scheduled for a 2011 revaluation. Mecklenburg County, North Carolina's second most populous county, was one of them. Mecklenburg County taxpayers reacted to the revaluation by inundating the County with requests for informal review - so much so that the County still has not made it through all of those requests. Obviously, high numbers of requests for informal review creates the potential for high numbers of Board of Equalization and Review appeals and ultimately Property Tax Commission Appeals.
So, if Mecklenburg County is any indication, the Property Tax Commission should brace itself for another record year.
Image Copyright Pauline Eccles. This work is licensed under the Creative Commons Attribution-ShareAlike 2.0 Generic License
