Your property value for tax purposes is going up!  There's no doubt about it.  Homes and other properties are worth more on the market today than they were four years ago when the last revaluation occurred.  Tax Administrator Susan Sain says you should expect to see a substantial increase in your values when the revaluation figures come out in January.  That doesn't necessarily mean a tax increase.  It's likely that County Commissioners will reduce the tax rate next year.  Here's the lastest on the Revaluation from the Lincoln County Tax Department.

Lincoln County on Schedule for 2023 Revaluation 
by Susan Sain, Lincoln County Tax Administrator

The Tax Assessor's Office is responsible for the assessment of all property values in the County.

The purpose of conducting a reappraisal is to provide equity between properties and to maintain fairness.  It is necessary to equalize values periodically to ensure that all property bears its fair share of the tax burden—no more, and no less.   The appraisal of real property is governed by North Carolina General Statute § 105-286, which requires each county to reappraise real property (land, buildings, and other permanently affixed improvements) at least every 8 years.  The Lincoln County Board of Commissioners have adopted a resolution ordering this reappraisal every 4 years to lessen the shift in values that may occur over an eight-year period.

Additionally, North Carolina General Statute § 105-283 also requires counties to appraise real property uniformly at its true value in money.  This is interpreted to be the estimated price at which the property would change hands between a willing and financially able buyer and willing seller, neither being under compulsion to buy or sell and both having reasonable knowledge of all the uses to which the property is adapted and for which it is capable of being used. 

The property (or ad valorem) tax is an important source of revenue for local governments.  Revenues are necessary to fund schools and vital services such as fire protection, law enforcement, public health, social services, and more.  The amount of property tax you are billed is assessed based upon the value of your property and the tax rate as determined by your County Commissioners during their annual budgeting process.  The governing bodies of our county, city, and fire districts determine the spending priorities for their respective jurisdictions. These governing bodies will also determine the amount of revenue that will be available from all sources other than the property tax, and establish the resulting tax rate based upon the budgetary needs of the local governments after considering all other sources.    

The last “county-wide” reappraisal of real property in Lincoln County was in 2019.  Personal property, such as (untagged) vehicles, trailers, boats, airplanes, farm and/or business equipment, etc. are to be “listed”  for taxation and appraised every year.  This difference in the way real and personal property is valued has an effect on the amount of taxes you will pay before and after a reappraisal. 

Lincoln County has more than 51,000 real property parcels. Of these parcels, 91.47% are Residential, 4.14% Commercial, 1.21% Industrial and 3.18% are Exempt.   Our office is on schedule for revaluation notices reflecting the newly assessed values to mail out to all real property owners in February 2023.    These values will also be available online by visiting the Lincoln County GIS page at:  https://arcgisserver.lincolncounty.org/taxparcelviewer/

An informal appeal process begins at the date of the mailing of the assessment notices up to 30 days.  The Board of Equalization and Review begins formal appeals in April.  County Commissioners typically set the tax rates by June. Tax bills generally mail out in July, allowing taxpayers to take advantage of the 2% discount offered until August 31.   Tax bills are “due” September 1 and considered late if unpaid by January 6 of the following year.

Appraisers are currently reviewing all parcels and analyzing market sales data from 2019 through 2022. In the event our appraisers have questions, they will be visiting properties to confirm data if necessary. 

Our goal is to be transparent, provide great customer service and do our best to keep everyone informed, while at the same time following state guidelines. Should you have questions concerning the 2023 Revaluation process, please feel free to contact our Appraisal Division at 704-736-8670.