1000+ Polk County residents appeal new property tax values
Published 4:26 pm Thursday, April 30, 2009
The E&R board will convene next week but will not begin hearing formal appeals until sometime in June. That process could take a few months depending on how many appeals are made.
Property owners who are in the appeals process will most likely not receive a tax bill this July until after decisions are made regarding their assessed property value.
Property owners who still don&squo;t agree with the Polk E&R board&squo;s review can take their case to the N.C. Property Tax Commission and finally to the N.C. Court of Appeals.
As required by the state, Polk County completed its 2009 revaluation earlier this year. The county is required to reassess all property at least every eight years. The current revaluation was done to adjust values to match fair market value as of Jan. 1, 2009. Polk County&squo;s last revaluation was done in 2001.
The Polk County Board of Commissioners as well as the municipalities of Tryon, Columbus and Saluda are all currently working on their budgets for fiscal year 2009-2010, which begins July 1. Polk commissioners have said they will approve a revenue neutral budget to bring in the same property tax revenue as the current year budget. Revenue neutral means that the county will lower the tax rate equal to the average percentage increase of property values throughout the county. The 2009 revaluation increased the total tax value of property in the county by 34.62 percent. Property owners who saw a lower increase than the average will see a tax decrease this year and property owners whose property value&bsp; increased more than 34.62 percent will see a tax increase.