The Buncombe County Board of Commissioners on Tuesday will vote on a resolution that would cancel the upcoming property tax revaluation in the face of a declining economy, pushing it to 2014.
"Due to the recent economic decline the tax assessor as well as local independent real estate appraisers have determined and are of the opinion that real property values are relatively flat across the market area such that the values have neither increased nor decreased by an amount sufficient to require the preparation and adoption of a new Schedule of Values," the text of the resolution claims.
The last property revaluation took place in 2006, at the height of the area's housing boom. At that time, the commissioners voted to set the next revaluation for 2010.
Currently, the county property tax is 52.5 cents per $100 of property value. The proposed budget for the coming fiscal year keeps that rate the same while making $5.9 million in cuts.
The looming revaluation was listed as one of the county's financial challenges at the commissioners' retreat earlier this year. If property values declined -- as they have in many areas due to the economic downturn -- the county could be further strapped for cash.
The meeting begins at 4:30 p.m. on Tuesday, June 2, in the commissioners’ chambers at 30 Valley St. A short pre-meeting review of the agenda begins at 4:15.
-- David Forbes, staff writer
"Due to the recent economic decline the tax assessor as well as local independent real estate appraisers have determined and are of the opinion that real property values are relatively flat across the market area such that the values have neither increased nor decreased by an amount sufficient to require the preparation and adoption of a new Schedule of Values," the text of the resolution claims.
The last property revaluation took place in 2006, at the height of the area's housing boom. At that time, the commissioners voted to set the next revaluation for 2010.
Currently, the county property tax is 52.5 cents per $100 of property value. The proposed budget for the coming fiscal year keeps that rate the same while making $5.9 million in cuts.
The looming revaluation was listed as one of the county's financial challenges at the commissioners' retreat earlier this year. If property values declined -- as they have in many areas due to the economic downturn -- the county could be further strapped for cash.
The meeting begins at 4:30 p.m. on Tuesday, June 2, in the commissioners’ chambers at 30 Valley St. A short pre-meeting review of the agenda begins at 4:15.
-- David Forbes, staff writer
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Sounds to me they know our property values have declined and also know a revaluation would reduce their tax income. Hmmmmmmmmm
By MusicLover45
06/15/2009
Residents, particularly older seniors on fixed incomes, who got stuck with higher property taxes because of property values artificially inflated by the housing bubble, were looking to the next evaluation to get their taxes and their property valuations back to a more reasonable, sustainable level. Now the Commission wants to deny that remedy to home owners. Where is the Buncombe County Grover Norquist who will lead a tax revolt?
By AvlResident
06/15/2009
When it comes to government and taxes, follow the money trail. Good posts above mine. But I do believe individual residents can request a re-valuation of their property. If I am correct, I encourage those who feel over-valued now to geta new appraisal. And just to be on the safe side, I would have an official private professional appraisal done first in case the local commissar's man is not honest. Which is a good bet. :)
By John Smolkin
06/15/2009
the people need to stand together,,and sue the county commissioners and tax department for failure of their duties,,they ,when sworn,..swear to protect the tax base,,they used an inflated assessment,which was not a real economy,,they therefore,in my opinion fail their oath with disasterous results,,..please as maybe grover wouldve said,,sue them s o b's,they have destroyed the tax base,and also at the state level,,it needs to be filed in a superior court,sue them ..win...then un-elect them..please do this mr and mrs landowner,if not this way,,things will not change,,,enough is enough
By jeff turner
06/16/2009