According to Mike Montpetit, president of Town & Country Realty, the appraisal from the Revenue Department is often inconsistent with actual property values.
“Oftentimes when we do a market assessment, we find that the assessed tax value is higher or lower than it should be. When homeowners can prove that their home value is less than stated by the Revenue Department, they can reduce their home taxes dramatically,”
All owners have the right to appeal the appraised valuation of their property whether assessed too high or too low. Unless homeowners contest the appraisal by the Revenue Department, the reappraisal rate, which dictates the amount of property tax owed, will become effective on January 1, 2008.
The Wake County Revenue Department must reappraise real property at least once every eight years. Revaluation is the process that matches tax value with what a property is worth according to the current fair market value. Reevaluation affects all residential and commercial land and structures, including homes, apartments and condos, and office buildings, stores and warehouses.
Property owners who feel as if their new assessed value is incorrect can receive a free market evaluation by local real estate expert Mike Montpetit of Town & Country Realty. As a local area expert with knowledge of the communities, Mike has performed hundreds of free market assessments on homes in Triangle area. Those interested in a free analysis can contact Montpetit at 919-786-7776.
About Town & Country Realty, Inc: Town & Country Realty, Inc. is a leading Cary NC real estate agency in its 8th successful year of business. The company is resolute in its mission to provide outstanding customer service and offers a “love it or leave it guarantee” as a measure of their unyielding commitment. Town & Country’s website, http://www.MikesRealEstateTeam.com offers a full local area property search, featured properties, and a library of resources for Triangle real estate buyers and sellers.
