Onslow County officials say the property revaluation process is moving forward on schedule.
Harry Smith, Onslow County Tax administrator, said that initial values have been assigned to the majority of the county’s properties but not all.
Notices with the new assessed values, he said, should be mailed in late January or early February.
“While it is still too early for final numbers, it appears that many properties will decrease, but there are some properties which will experience modest increases,” he said. “I’ve done three of these. In 2006 we saw dramatic increases. The second one, in 2010 we saw large decreases in resort areas. This one seems more flat.”
Smith said that reappraisals are done to assess all properties at current market value, in order to provide an equitable distribution of the tax responsibility.
“Personal property — such as motor vehicles, boats and manufactured homes — is reassessed every year but real estate is only reassessed every four years.
If property owners disagree with their new assessed tax value, they are able to contact the Tax Office Appraisal Division for an informal review or submit an online review request. The request form will be posted to the tax office website when notices are mailed.
Smith said that real estate makes up about 86 percent of the county’s total tax base.
“Changes in the real estate assessments can potentially shift the tax distribution among different classes of property and different types of real property. Property values also affect the budget since property taxes are the largest source of revenue for the county budget,” he said.
The values of the reappraisals, effective on Jan. 1, will be the basis for the tax bills that will be due on Sept. 1, according to Onslow County Public Information Officer Todd Lyma
More information about the revaluation process is available at Onslowcountync.gov/tax.