Some Polk County property owners recently received a higher tax bill and a letter explaining a different way of assessing vacant lot values.
Polk County conducted a revaluation last year, but Polk County Tax Assessor John Bridgers says assessing vacant, buildable lots to reflect true market values is being done this year.
Polk County is sending out property tax bills now and some property owners are seeing significant increases in bills for vacant lots. The most common change is occurring for homeowners in subdivisions who have a house on one lot and also own other adjacent lots.
Bridgers says those vacant, but buildable lots have been assessed low in the past and his office is cleaning up assessments that have not been done correctly in the past.
“The bottom line is were trying to be fair across the board,” Bridgers said. “Those lots have been undervalued.”
Polk County properties should be at or about fair market value following the 2009 property revaluation.
The revaluation should have brought properties to their fair market value. Revaluations are done every eight years in Polk County. The county offset last year the average increase in property values by dropping the tax rate three cents. The county chose a tax rate that was three cents under its revenue neutral rate.
The letter property owners are receiving with the adjusted vacant lot appraisals says, “as required by law, in the NCGS 105-283.13, you are hereby being notified that the value of this property has changed. This change is a result of an adjustment which was made for subdivision values per NCGS 105-287. All lots in platted subdivisions shall be assessed with at least one building site.”
Bridgers says property owners who have received a tax bill for a vacant lot that is not buildable, should contact the tax assessors office for an adjustment.
Property owners also have the option to appeal values by filling out a form and appealing before the Polk County Board of Equalization and Review.
Appeal forms are sent with tax bills and also are available at the Polk County Tax Assessors office in the Womack building in Columbus. Those appeals must be turned in by the end of March.
The board of equalization and review will begin meeting around the end of March and likely will continue meeting into April.