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Tax assessor recommends advancing next county revaluation to 2028 after 58% real-property growth in 2024
Summary
The county tax office reported strong building-permit growth, large real-property valuation increases from the 2024 revaluation and recommended moving the next full revaluation to 2028 to retain public-utility equalization and smooth valuation changes.
Todd Hurst, speaking for the tax office, told commissioners the county saw large real-property growth in the 2024 revaluation and recommended advancing the next full revaluation to 2028.
Hurst summarized permit and market trends: building permits and stick-built home permits rose substantially year-over-year; overall 2024 real-property growth was reported as 58% compared with 2019, and Hurst said the department submitted the 1% sample the N.C. Department of Revenue requires and is awaiting approval. He told commissioners the county is currently estimating a sales-ratio range around 90'93% for 2024 filings; falling below the 90% threshold has consequences for public-utility equalization.
Hurst recommended advancing the next cyclical revaluation from the county's previous schedule to 2028 to preserve public-utility equalization and to reduce the size of future single-year valuation adjustments. He said public-service company (utility) valuations for 2025 will be available in September 2025 and noted personal-property totals and collections remain subject to April filings and adjustments.
Delinquent collections and foreclosures: Hurst reported collection rates in progress and said the county has engaged a new foreclosure attorney (Zacchaeus Legal Services) to pursue a batch of delinquent parcels; he said some taxpayers paid after the foreclosure notices were sent. Hurst also discussed audits that resulted in some churches receiving tax bills for land previously not taxed, and he said the issue traces to state statute and DOR audit practice; staff will research statutory options and report back to the board.
Why it matters: Revaluation timing affects taxable value levels, the county's tax base and how much revenue must be raised through rates. Hurst said a shorter revaluation cycle reduces the size of single revaluation increases or decreases and preserves certain state-equalization treatments.
Process notes: Commissioners asked for more detail on the distribution of increases across the county; Hurst said neighborhood-by-neighborhood variance exists and that over 500 neighborhoods complicate simple summaries. Commissioners also asked for a firm deadline for the board decision about revaluation timing; Hurst said May would be appropriate to make a final decision.
Ending: Staff will return with follow-up research on church property treatment, a detailed revaluation schedule and materials to support a May decision on the next revaluation cycle.
