Real Property Division

In North Carolina, a reappraisal is the way a taxing authority, in this case Henderson County Government, appraises the monetary value of real property and ultimately the tax assessed in proportion to that value. All appraisals, whether a mass appraisal conducted as part of a county-wide, general reappraisal, or an independent fee appraisal such as those associated with mortgage loans, are considered to be an "opinion of value".

The primary purpose of a reappraisal is to provide the most equitable distribution of the tax burden among all classes of property, regardless of property type or where it might be located. North Carolina law requires each county to complete a reappraisal at least once every eight years. On November 17, 1993, the Henderson County Board of Commissioners adopted a resolution providing that effective as of 1 January 1995, Henderson County would reappraise every 4 years. Since 1995, Henderson County has reappraised all real property on a four-year schedule (1995, 1999, 2003, 2007, 2011, 2015, 2019 and 2023). More frequent appraisals recognize that different properties increase or decrease in value at different rates. The 2023 Reappraisal in Henderson County is to assure all the property assessments reflect current market value and that taxation is fair and equitable for each of our citizens.

Real property includes land and buildings, structures, improvements, and permanent fixtures on the land, anything that is affixed to the land, and all the rights and privileges belonging or in any way associated with the property. It includes residential property such as single-family, stick-built residences, condominiums, townhomes, and certain manufactured homes where the wheels, moving hitch, and axles have been removed and where the unit has been placed on a permanent foundation on land owned by the owner of the home, or where the owner of the home has a leasehold interest resulting from a lease with a primary term of at least 20 years. For a business, real property includes warehouses, factories, offices, and any other buildings owned or rented to or by the business. Real property only includes those structures affixed to the land, not things that can be moved, such as equipment. All real property is appraised and assessed at market value only in the year of, and as of, the year of the reappraisal.

What Is "Market Value"?

The most probable price which a property should bring in a competitive and open market, being exposed to the market for a reasonable length of time, under all conditions necessary to be a fair sale, the buyer and seller both having reasonable knowledge of all the uses to which the property is adapted and for which it is capable of being used, and neither being under any compulsion to buy or sell.

How Will My Property Be Appraised?

Property values are not created by the Assessor's Office. The local real estate market and the individuals who buy and sell land, homes and commercial/industrial property, are in a continuing cycle of establishing current market values. The appraiser must recognize the value set by willing buyers and willing sellers for any property type within any specific neighborhood or area.

All properties in the county have been visited to verify all property characteristics, such as location, square footage, type of construction, type of heating, age, condition, etc.

Market value may be determined in three ways:

1) Sales Approach - This method compares your property to similar properties that have recently sold prior to January 1, 2023.

2) Cost Approach - This method determines how much it would cost to replace your property with a similar one, less any accrued depreciation for age, condition, or other adverse factors affecting the value of the property, such as functional or economic obsolescence.

3) Income Approach - This method determines the value of income producing property based on converting the amount of net income generated by the economic rent of property less allowable expenses.

How Are Reappraisals Evaluated?

Under guidelines established By the North Carolina Department of Revenue, the County Assessor's Office conducts ratio studies comparing the selling price of a randomly-selected sample of arms-length sales occurring during one calendar year to their respective assessed valuations as of January 1 of the following calendar year. For the 2023 Reappraisal, sales occurring in 2022 will be compared to their January 1, 2023 assessed value. (Example: A property that sold for $200,000 in 2022 and was assessed for $195,000 for January 1, 2023 would have an assessment to sale price ratio of 97.5% (195,000 / 200,000 = .975).

The reappraisal is conducted in-house by professional real property appraisers who are employed by Henderson County, and have been certified as Real Property Appraisers by the North Carolina Department of Revenue. 

The appraisal office is staffed with eight residential appraisers, a commercial appraiser, a customer service specialist , a data analyst and a real property supervisor.

That is unknown. There are three factors which determine how much tax each property owner will pay. First, there is the appraised or assessed value of the property; second, the cost of services from local government which the citizens of the county demand; and third, the tax rate set by the Board of Commissioners to meet the cost of these services. Generally speaking, with the overall change in the total tax base commonly associated with a reappraisal year, most likely the tax rate will be reviewed.

If, after receiving the notice of your new assessed value, you feel the appraised value substantially exceeds what the property would sell for, or it is not appraised in accordance with similar properties in your area, a number of steps in the appeal process are available to you.

You may request an informal review of your appraisal by completing the review form included with your Reappraisal Notice of Value. The appraiser responsible for your area will review any information you submit to support your position.

If you are not satisfied with the decision of the informal appeal, you may appeal to the local Board of Equalization and Review.

If you are not satisfied with the decision of the Board of Equalization and Review, you may appeal to the North Carolina Property Tax Commission.

Decisions of the Property Tax Commission may be appealed to the North Carolina Court of Appeals.

By law, sales of real property occurring after the effective reappraisal date of January 1, 2023 cannot be considered in determining the 2023 appraised value. The legal standard for review of all listing and valuation issues is the "greater weight of evidence" test, essentially the facts and documentation that support any opinion of value. Examples of the best evidence brought by any appellant, in order of importance, are:

1) An independent fee appraisal for market value with a valuation date as of January 1, 2023.
2) Arms-length sales of properties comparable to the subject and having occurred prior to January 1, 2023.
3) Listings of comparable properties as existing on January 1, 2023.
4) Income and expense statements from 2022 for income producing properties.
5) Evidence of data characteristics for the property that are different from what is recorded by the county for the parcel, and which the market supports as having an impact on value.

Important Points To Remember

The new appraised values will become effective on January 1, 2023 and will be reflected in the tax bills you receive in late August-to-early September of 2023.

You will be notified by mail around February 15, 2023 of your new assessed value.

If you are concerned that your TAXES are too high, the Assessor's Office has no authority to lower your taxes.

If you believe the value placed on your property is substantially higher or lower than market value, you can appeal your assessment by filing an informal appeal to the Henderson County Assessor's Office or a formal appeal to the Board of Equalization and Review.

If you are 65 or older, or totally and permanently disabled, qualify under the income requirements, and make application, you may receive a reduced valuation of your residence.

If you are commercially growing timber, agricultural, or horticultural products, and submit a qualifying application, you may receive a reduced valuation of your property.