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How can New Hanover County continue to charge property tax at pre-crash values?

Kevin Maurer
StarNews
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New Hanover County's latest property revaluation becomes effective Jan. 1, 2012.

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.”

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3 Responses to “ How can New Hanover County continue to charge property tax at pre-crash values?”

  1. On October 4, 2011 at 10:08 pm Bill wrote:

    Does it really matter what value they place on our homes since they will just adjust the tax rate so the amount we pay stays the same anyways?

  2. On October 16, 2011 at 8:31 am Thomas wrote:

    What is the basis for the opening comment ‘tax evaluations cannont be adjusted based on current values’?
    This must put significant and artificial constraints on a free market.

    How would the citizens of NHC, pose this question to our UNC-W business school?
    a)) From a historical perspective of property tax in NHC,
    Who has benefited from this approach?
    b) in a market with prices rising –
    c) in a market with prices falling -

    tr.congleton@gmail.com

  3. On January 3, 2012 at 2:49 pm Jerry wrote:

    I agree with Bill – theyr’e going to get a certain amount of $ to run the city/county no matter what the value of your real estate is appraisied at.



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