• North Carolina General Statute 105-286 requires that all counties conduct a reappraisal of real property at least every eight years. This statute also allows for the advancement or shortening of the reappraisal cycle. In an effort to be fair and equitable to all classes of property in Burke County, the next reappraisal is scheduled for 2019. By conducting these reappraisals more frequently the amount of inequity that can occur between different property types and areas is reduced.
  • During the reappraisal process the Revaluation Department will develop a Uniform Schedule of Values by analyzing cost, sales, and income data. Although all sales are reviewed, not all are used. An example of a sale not used would be one between reletatives. This type of sale is not considered an Arms-length Transaction.
  • The purpose of the Uniform Schedule of Values is to insure equity in the valuations. Once developed this schedule is then applied to the property data for each property within the county. After being applied, the results for each property are reviewed and compared back to the market sales data and other information neighborhood by neighborhood. The application of a schedule of values will not exactly match every sales price however it will insure that similar properties are assessed equitably. As a result of the reappraisal process, property values change at different rates to reflect the market trends within their neighborhood and property type.
  • After testing and retesting, the Schedule of Values is then presented to the Board of Commissioners for adoption. Once adopted this schedule is used in determining tax values from January 1 of the year of revaluation until the next general revaluation.
  • The next revaluation is currently scheduled for January 1, 2019.

 

View 2013 Schedule of Values