Wake County Property Tax assessed valuations for 2008 were released this week. We saw property values increase by an average of 40% across the county. I know folks who saw their values increase by 70%.
Are the numbers based in reality? Further study is needed. But such a sharp increase definitely calls for scrutiny of how the assessed value is determined. I have neighbors whose home is over-valued. How do I know? Wake County says they have over 3000 square feet, when the true measurement is closer to 2500 SF.
They should be able to appeal and win based on that error alone.
The appeal process is well-documented on the Wake County Tax and Property Information site, WakeGov.com. To learn about appealing, Click to read more. It includes building a case based on recent home sales in your neighborhood, and helping to demonstrate how the assessment is faulty.Just make sure you have done your homework and all the information and the completed form are submitted to Wake County by the deadline, January 1, 2008. Merry Christmas, right?