New Hanover County is not allowed to change real estate values based on economic conditions, according to Roger Kelley, the county’s tax administrator.
“The last revaluation was Jan. 1, 2007 and we carry those values over from year to year,” he said. “There are a few reasons for adjustments between revals, but economic changes are not one of them. We are currently working on a countywide revaluation which will be effective Jan. 1, 2012, at which time values will be adjusted for the current market conditions.”
Date posted: October 4, 2011
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