North Carolina’s Buncombe County is in the process of reviewing its rules and standards before beginning property appraisals for 2017.
“Approving those standards for appraising property is more important than most folks realize,” County Manager Mike Ruffin told the Enterprise Record.
Once adopted, that schedule cannot be changed, according to Brian Myers, a tax administrator.
Myers went on to say that the schedule of values adopted by commissioners, not the market, determines property values. That schedule of values is based on the current market values, but is adopted only every four years.
“The market usually changes – in one direction or the other – in between revaluations. We’re right … at least every four years,” Myers said.
“Recently, there have been more property transactions, which make it easier to come up with that schedule to reflect fair market values,” Myers said. “The proposal is available for public view at the county administration building. The county is divided into zones for the appraisals, with some areas going up in value while a couple of areas have gone down in value.”