Scorching housing market impacts revaluation
Many homeowners in Henderson County are happy that the housing market is so hot that they added a little more stock to their biggest assets every day.
If a countywide reassessment to reflect these higher values means an increase in property taxes a year from now, they might not be so happy. Home prices have risen 45% since January 1, 2019, the effective date of the last revaluation, the Henderson County Tax Commissioner told the county commissioner last week.
She doesn’t anticipate the widely anticipated large rise in value, but tax official Darlene Burgess has filed a preliminary report on the status of the revaluation, suggesting a significant rise in the property. We have shown the statistics that show the
Appraisers have embarked on a short line of four-year processes to price all 69,422 parcels of the property. 68% of them have structures. State law requires counties to revalue real estate at least every eight years. Since 1995, Henderson County has chosen to reassess her every four years. The goal of the revaluation is to value all properties at his 100% of their market value as of January 1, 2023, Burgess said. The revaluation team consists of a manager, nine appraisers, an analyst and a clerk, and in 2019 local appraisers began visiting parcels. Remaining until January 1st.
“I heard Darlene say a little while ago that by the end of this process, our staff would be visiting every lot in this county,” said county manager John Mitchell. It’s been a huge success and we’ve never done it internally, I think the last time we did it we had to pay the company to come and do it.”
Among the highlights:
- As of July, the median home price in Henderson County was $395,000. This is $124,000 more than the January 2019 price, or an increase of 45.7%. 22 days on the market and 1.4 months in stock, both the lowest since 2008.
- The village of Flat Rock is known for its many historic homes and opulent mansions, but Mills River soared to number one as the most expensive housing market, with Flat Rock coming in third. . In July, the median home price in transitioning farming communities was $456,900, with Laurel Park his $417,500. Fletcher, $390,000. Flat Rock, $379,900. Hendersonville, $340,000. and Salda, $333,750.
- Low-price homebuyers may consider lowering the elevation. Median home prices were $440,000 in Buncombe County, $430,000 in Transylvania County, $380,000 in Polk County, $256,000 in Rutherford County, and $436,500 in Greenville County, South Carolina.
- Contractors received 873 permits in the fiscal year ended June 30. This is the highest number since 2008. The next highest was his 799 in 2008, when the Great Recession began. The lowest value in 2011 was 213.
- 1,604 parcels are tax-exempt as government-owned, non-commercially owned, or religiously based.
- Next steps: Property owners will be notified of the new value in February. Appeals may be submitted to the Equalization Review Board until May 15th. The Commissioner’s Committee said by 30 June next year he will adopt the tax rates for 2023-24. The tax bill will come out one year from now.
As Burgess wrapped up her presentation, county managers and commissioners showered the tax department employees with praise. I chose a job.
“You’ll find that we keep bragging to the commission about the amount of money brought in,” he said, noting that the county’s ad valorem collection rate this year was 99.26 percent. It’s a job,’ he said of Small and his team of collectors.
E&R Committee Chair Joe Sherman also praised the tax team.
“I’ve never seen more dedicated staff here,” he said. “Before I moved here, most revaluation services were outsourced to private companies. They are not invested like these people. I understand the value of and how it is applied when an evaluation is made, and when I sit across the table and listen to people complaining about the evaluation, I feel It will be easier.”
Commissioners and the taxpayers they represent benefit from fair property valuations and high collection rates, but elected leaders also tend to emphasize fairness in their dealings with taxpayers.
“Tax appraisers and tax collectors are not the most liked people in the community,” said Commissioner’s Board Chairman Bill Lapsley. “On behalf of the Board of Directors, I would like to say thank you for all your actions.You treat everyone fairly and on board in a very professional manner.”