Property Tax Appeal Questions
Hey all,
Recently a couple of counties in North Carolina where I own properties have run revaluations that will result in the doubling of my property taxes. I am likely going to appeal the new assessed values. I have a couple of questions before I move forward with submitting the appeals.
1. Have any of you actually experienced your assessed value INCREASING after submitting a property tax appeal? Each of the revaluation statements includes verbiage that if I appeal the new assessed values, the taxes could potentially decrease, remain the same, or increase.
2. Each of the properties needs a significant cap-ex repair. One needs a new septic tank and plumbing to the tank from the house (already working with the county on this one), and one needs foundation work (I have a $22k estimate in hand). Both properties are currently tenant occupied. Am I placing myself at risk in any way by giving this information to the county tax office? For example, could they deem my properties unlivable if I disclose this info? Both properties are habitable w/o risk to my tenants but these are things I need to take care of in the near or semi-near future.