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County staff outline mandatory reappraisal and calculate a 39.22¢ revenue‑neutral tax rate
Summary
County Assessor Eric Kreger explained the statutorily required reappraisal and staff presented a revenue‑neutral tax rate of 39.22¢ per $100 of assessed value based on a $76.8B estimated base and 2.74% natural growth, data that will inform the May budget recommendation.
County staff and the property assessor detailed a statutorily required countywide reappraisal and showed how that data feeds the FY27 budget process. At a Buncombe County budget work session, Property Assessor Eric Kreger said the Department of Revenue notified the county that assessments were out of the state’s acceptable band and required a reappraisal for the 2026 assessment date. "We received a notice from the Department of Revenue, saying that we were to do a reappraise on 01/01/2026," Kreger said.
Kreger explained reappraisal “activates the real estate market” in assessments and reflects sales over a…
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