Public concerns run high over revaluation process in county

With public concerns running high over the recent Alleghany County property revaluation, Tax Administrator Mary Walker's office has received numerous calls. However, while several people had complaints about their property value, many lacked an understanding of the revaluation process, which is required by state statute.

"There are several misconceptions—we don't make up the rules as we go. Many people think that this (reval) is something that the county has chosen to do," she said. "Alleghany County is required to bring all its property as close as possible to market value by the laws of the state."

Specifically, the North Carolina Machinery Act (GS 105.283) states that "all real and personal property, as far as practical, must be valued at its true value in money....true value in this case meaning market value, or price estimated in terms of money at which property would change hands between a willing and financially able buyer and a willing seller."

In other words, the county's tax office must attempt to put all property at its true market value at least every eight years. "A lot of people just don't realize that it is mandated by the state," said Walker. "The commissioners have no control over it, except when setting the tax rate."

Therein lies another major point, she said. "The tax rate is usually set in June of each year," Walker said. In previous revaluations, the tax rate has always been decreased to ease the burden on taxpayers, she added. "In 1998, the tax rate was 58 cents (per $100 in value). After reval, it went to 50 cents." In the end, taxpayers still usually end up paying more taxes, but not as much as the 'tax shock' price that would be in effect if today's tax rate were applied to the higher values.

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