Cabarrus revaluation notices mailing soon
Published on February 02, 2024
Cabarrus County is mailing revaluation notices to property owners, and residents will have 30 days to file appeals with the County Tax Administration Office.
The new property values are effective Jan. 1, 2024.
During a revaluation, Cabarrus reviews property values based on the market and economic conditions to bring assessed values in line with the worth of the property as of January 1 of the revaluation year. The legally mandated process, which occurs every four years, creates equity among property values and ensures the value of any given property is consistent with neighboring properties.
The tax department appraised more than 97,000 properties and analyzed about 42,000 transactions during the current revaluation period.
The tax bill for each property will depend on the combination of the assessed value of the property and the tax rate set by the Cabarrus County Board of Commissioners and municipal boards in June. Tax bills with the updated values will mail to property owners in July 2024 and are due in January 2025.
Tax Administrator David Thrift encourages residents to review the notice, which mails the week of February 5 and includes appeal information and contacts for tax department staff members. Thrift says appeals are “one of the most important parts of the process and an opportunity to address concerns.”
2024 revaluation data
Due to activity and changes in the real estate market over the past four years, most properties have increased in value, though some have decreased, and some are virtually unchanged.
Real property values have increased an average of about 60 percent. Because each property is different and the revaluation includes all residential and commercial properties, that number isn’t necessarily what individual property owners will see in their revaluation notice.
About the revaluation process
County real estate appraisers review properties by analyzing data collected through field visits and aerial images to estimate fair market value (the price a willing seller may receive from a willing buyer.) In cases where property owners make improvements or other changes, appraisers visit the property to evaluate.
The process of evaluating property depends on communication between the property owners and the tax administration office. The County mails property owners a listing document each January to help avoid discrepancies in property value and prepare for revaluation. The document informs owners of their responsibility to report any changes to the property. Discrepancies are then addressed through the revaluation appeal process.
Each revaluation notice includes an appeal form. Property owners may submit their appeal in writing to the Cabarrus County Tax Administration office within 30 days of receiving the notice or file the appeal online at cabarruscounty.us/appeal. The updated page will go live when notices are mailed, according to Thrift.
The County started the 2024 revaluation process in 2022. The Board of Commissioners held a public hearing on the 2024 Schedule of Values in September 2023 and adopted the schedule at their October Regular Meeting. The schedule serves as the appraisal manual for revaluation and includes information related to listing, assessing, valuing and applying rates.
About the County budget process
Cabarrus County Board of Commissioners begin the Fiscal Year 2025 budget process with a two-day retreat later this month.
Residents will have opportunities to participate in the ongoing budget and tax rate discussion by attending public workshops and meetings beginning in April. Visit cabarruscounty.us for more information.
The County has set the year’s first Government 101 session, which focuses on the budget and revaluation process (including a presentation from Thrift). Registration spots are filled, but other input and education efforts are planned for the coming months.
For more details about revaluation, including a link to a comprehensive FAQ section, visit cabarruscounty.us/revaluation.
Email revalinfo@cabarruscounty.us or call 704-920-2126 with questions.