Guilford County officials in North Carolina say they are well on their way to completing appraisals for some 210,000 properties. They are about 50 percent finished with the project, which was last done in 2012.
County Tax Department Director Ben Chavis told the Guilford County Board of Commissioners “the county wants its assessments to be as close to 100 percent of market value as possible,” he said.
Though the state only requires the assessments every eight years, Guilford County wants to move from a five-year cycle to a four-year cycle, which would allow properties to stay closer to their actual value.
The county was on a four-year cycle from 2004 to 2012, but changed to get away from election years.
“From 2004 to 2008, we were doing great,” Chavis told the Greensboro (N.C.) News and Record. “Values were growing. From 2008 to 2012, values were all washed away. From 2004 to 2010, the assessments were between 90 percent and 100 percent of homes’ values. But in 2011, assessments, having not been renewed for three years, were 103.7 percent of actual values.”