Durham County, NC last reappraised real property values in 2008. The county wide increase is 14%. In 2008 the increase was 30%. I like the way we did it in my part of Virginia which was done yearly or in the case of Virginia Beach when houses were sold it set the value of that house for tax purposes.
County Tax Administrators look at physical characteristics of a property such as age, square footage and changes could affect the value. Things like adding a deck, a garage or additions to the main structure. Real estate transactions of nearby properties are also looked at.
Remember the 14% is an average so some properties will see a much higher increase and some may even see a decrease depending on location and condition. If you don't like the new tax value you can appeal it up until May 2. Information should come with your new assessment this month.
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