Onslow property owners will soon receive a notification of new values assigned to property in the County. State law requires Counties to regularly adjust property values to match market value. In Onslow County, this process takes place on a four-year cycle.
The mailing of 88,282 documents will also contain tax listing information. To save funds, the County delayed the normal January requirement to list new property for taxes to allow the revaluation documents to be mailed with the tax listing forms.
The County has been using values assigned in 2018 for most properties. Over time, market values change, and the State requires values be set to market level regularly. The new values assigned take effect for the 2022 tax year.
Many values increased, but not consistently across the County. In some areas, new growth and development added to the tax base since 2018. In some areas, the value of real estate increased, also contributing to an increase in the total values.
To undertake the revaluation process, Onslow County had to follow General Statute 105-283. The NC Department of Revenue can require the County to have more frequent revaluations if market values are too far off from the taxable values.
Onslow tax officials created a schedule of values for our community. After publication and review, the schedule was adopted and used along with market sales for comparable properties in the County. The County has a staff of appraisers who are knowledgeable of the local market, and they performed the revaluation work.
The new 2022 values have been loaded into the County’s GIS database. Property owners can click on the GIS County mapping icon on the left-hand side of the County’s main page and then enter their information in the inquiry box to find their property and information. They can also compare values with similar properties.
Separately, a digital map is available that allows property owners to see how their neighborhood was valued, and the County has a new system that will allow property owners to do comparisons with recent sales and valuations.
Property owners can appeal the value assigned to their properties. To make it easy, property owners can go online at the address in the Notice of Revaluation and enter their information. They will be expected to provide factual and documented information about why the value is incorrect such as similar properties by age, location, and type, and the sales information for those properties. A recent fee appraisal is also helpful. The first appeal level is at the staff level and can be an in-person visit to review the property card for the property and to discuss the comparable sales data used to evaluate the property.
Property owners can also appeal using a form that comes with the Notice of Revaluation and can either mail it or bring it to the Tax Office at 234 NW Corridor Blvd where an informal hearing will be scheduled.
Further appeal can be made to the Board of Equalization and Review. This board, composed of Onslow Citizens knowledgeable about real estate matters, holds a more formal hearing where the property owner must provide a factual basis for a change in the value assignment for their property.
A third level is the North Carolina Property Tax Commission where a process like a judicial hearing seeks to hear the appeal of the property owner, and then to render a judgment.
Property owners wishing to appeal their new value may wish to review the list of items that help form the new property values. A recent fee appraisal used for a sale, mortgage refinancing documents and pictures of the inside and outside of the home can also be valuable. A review of recent sales within your neighborhood of homes like yours will also be valuable.
The increase in values since 2018 can be contributed to two main factors: the addition of new homes businesses, and the increase in values to existing properties.
The Onslow County Board of Commissioners is in sole control of any adjustment to the tax rate to match the revenues needed to operate the County. This will not happen until budget deliberations are finished and the County Commissioners make decisions about the revenues needed.
You May Qualify for a Property Tax Relief Program
Some resident property owners may wish to evaluate whether they might qualify for a property Tax Relief Program. The Homestead Exclusion is designed to help the elderly or disabled persons have some relief from property taxes. The Homestead Circuit Breaker Deferment defers a portion of the property taxes on the permanent residence owned and occupied by a resident who has owned and occupied the property for at least five years and is at least 65-years old or is totally and permanently disabled and meets income requirements. The Disabled Veteran Exclusion provides relief for a permanent residence owned and occupied by residents who are honorable discharged disabled veterans or certain family members. More information can be obtained online or at the Tax Office.