Every four years, Cabarrus County reviews property values based on market values and economic conditions to bring assessed values in line with the worth of the property as of January 1 of the revaluation year. The revaluation process brings equity among property values and ensures the value of any given property is consistent with neighboring properties.
County real estate appraisers review properties by analyzing data collected using actual field visits, listing forms or property sales information and aerial images of properties to estimate fair market value – or the price a willing seller may receive from a willing buyer. In cases where property owners make improvements or other changes occur to the property, appraisers visit the property to evaluate the property’s features.
The process of evaluating property is ongoing and depends largely on communication between the property owners and the tax administration office. To help avoid discrepancies in property value and prepare for revaluation, the County mails property owners a listing document each January.
The document informs owners of their responsibility to report any changes to the property. The County works with property owners to address potential discrepancies through the revaluation appeal process.
The tax bill for each property is dependent upon the combination of the assessed value of the property, and the tax rate set by the Cabarrus County Board of Commissioners and municipal boards.
Local governments have until June 30 to set tax rates and approve the budget.
The last Cabarrus County revaluation took place 2016. The Board of Commissioners held a public hearing on the 2016 Schedule of Values on October 19, 2015 and adopted the schedule at its November 2, 2015 meeting.