2024 Granville County Revaluation

For questions about your assessment or the tax revaluation process, contact the tax office at 919.693.4181 or reval.2024@granvillecounty.org

REAL PROPERTY ASSESSMENT MANUAL

Please see this link for information about an important public hearing held on April 1, 2024.

Granville County intends to amend the Granville County Real Property Assessment Manual (2024) known as the schedules of values, standards, and rules as required by G.S. §105-317 by replacing pages 352 through 360. Such replacement pages have been submitted to the Granville County Board of Commissioners and are available for public inspection in the Assessor’s office at 141 Williamsboro St., Oxford NC and at this link.

The original adopted Real Property Assessment Manual (2024) is available for review at this link.

The reason for the replacement of these pages is that the 2018 neighborhood adjustment factors were included in the 2024 Property Assessment Manual in error. Granville County’s tax software had the correct neighborhood adjustment factors reflecting fair market value for 2024 revaluation so no errors in appraised value arose from the erroneous inclusion of the 2018 neighborhood factors in the Property Assessment Manual.

2024 REVALUATION GENERAL INFORMATION

The purpose of a property tax revaluation is to ensure that tax values of properties accurately reflect their true market value and that all county property owners are receiving fair and equitable treatment regardless of the location or age of their property. Not all properties increase in value at the same rate, which is why a regular revaluation is necessary.

Granville County last completed a property revaluation in 2018 and historically the county completed this process once every eight years. The North Carolina Department of Revenue notified Granville County that tax values and sale prices were becoming increasingly disproportionate and strongly recommended that the process be moved up. Due to the unprecedented rise in property values since 2020, property owners can expect to see a dramatic increase in the assessed values of their properties.

A dramatic increase in assessed value does not mean that your property tax bill will increase. In fact, as part of the revaluation process the county is required to identify a “revenue-neutral tax rate.” This would be the tax rate that would allow Granville County to collect the same amount of revenue based on the new assessed value of all county properties. Some taxpayers may see a lower tax bill at the end of this process if their property valuation decreased below the county-wide average. The Board of Commissioners will ultimately decide what tax rate to levy based on the needs identified during the annual budget process.

TIMELINE

Click the image to access the Comparable Property Sales Tool.

February 2024: All property owners receive their new assessed property value.

February 2024 – April 29, 2024: Conduct appeals submitted to the Granville Property Tax Assessor. To help property owners determine if they have a basis to file an appeal, a special comparable sales tool is available. The tool enables property owners to compare their property to other comparable properties across the county to determine if the new assess value is correct.

Click the image to the right or the link below to access this useful tool.

Comparable Property Sales Tool

Step-by-Step Guide to Using the Comparable Property Sales Tool

Tax Appeal Form

April 29, 2024: Board of Equalization and Review Appeals begin. If property owners disagree with the Tax Assessor’s appeal decision, they may appeal to the Board of Equalization and Review. Hearing dates will be announced soon.

April 29, 2024: Property Tax Commission Appeal process begins. If property owners disagree with the Board of Equalization and Review’s decision, they may appeal to the North Carolina Property Tax Commission. Note: These appeals must be filed within 30 days following your hearing with the Board of Equalization and Review.

July 1, 2024: New tax rate using the updated assessed values will take effect.

UNDERSTANDING YOUR PROPERTY RECORD CARD

The property record card contains a wealth of information about your property, but at first glance can be difficult to understand. Granville County Tax Administration staff have prepared a guide to help property owners understand the data included on their property record card that is included in the property database to determine annual tax bills.

To view your record card, visit the tax bill search page or locate your property in the Granville County GIS system. Tax Administration staff are also able to assist and can send a card directly to you. For more information or assistance in viewing your property record card, call 919-693-4181 or email reval.2024@granvillecounty.org.