Property Tax Appeals In North Carolina
Everett Gaskins Hancock provides counsel and advice to local and state and government and also has knowledge and experience in issue advocacy, lobbying and litigation. We are therefore able to provide our clients with a wide range of strategies for resolving administrative issues – including, when necessary, collateral challenges in state or federal court, at the trial and appellate level. Everett Gaskins Hancock‘s previous representations in these matters have resolved through settlement, evidentiary hearings before the Office of Administrative Hearings, appearances at the Rules Review Commission, litigation against licensing boards and regulatory agencies, and changes to the statutory law governing licensing boards.
How Is Property Taxed In North Carolina?
North Carolina law requires each county to determine for taxation the “real value” of property located in the county at least every eight years. The “real value” of income-producing business and commercial property is determined by the net income that the property generates. However, in our experience, counties frequently fail to valuate business or commercial property correctly because they base their valuations on replacement value or sales of comparable properties rather than on the net income that the property generates. This can have the effect of substantially overvaluing income-producing property for property tax purposes. Everett Gaskins Hancock has successfully obtained reductions in the evaluations of commercial and business properties by requiring counties to base the evaluations on the proper criteria. If you think your income-producing property has been substantially overvalued, you have the right to appeal that value to the county’s Board of Equalization and Review and, if still not satisfied, the North Carolina Property Tax Commission. The same appeal rights are available for residential property, but residential appraisals are not in error as frequently as income-producing property valuations.
In addition, North Carolina law also provides exemptions for certain charitable uses and reduced valuation for land used for certain agricultural, forestry and horticultural purposes. Some counties are refusing to continue these exemptions or reduced valuations.
If you think your property has been overvalued or has been improperly refused an exemption, take full advantage of the appeal procedures which are available to you. If you wish to seek assistance from an attorney, we would be happy to talk with you. Attorneys Ed Gaskins and James Hash have represented property owners in numerous counties across North Carolina in appealing overstated valuations and denied exemptions. The firm also assists clients in commercial real estate transactions and contract disputes throughout North Carolina.
Retain An Administrative Law Attorney for your Property Tax Appeal. Call Today For Your Free Consultation.
Everett Gaskins Hancock offers free initial consultations for administrative law and property tax valuation cases. Call us today at 855-618-9737 or send an email through our online form to schedule your initial consultation.