▼

Tax - Reappraisal

Show All Answers

1. What is reappraisal?

Reappraisal is a process where all property (land and buildings) within a taxing jurisdiction (in this case Gaston County) is reappraised to its current market value as of an established date. North Carolina law requires all counties to conduct a property reappraisal at least every eight years to determine market value. 

2. How are properties assessed?

All property (homes, commercial and land) is visited and observed by a Gaston County appraiser to:

• Verify the accuracy of characteristics on record for the property,
• Compare similar property sales and
• Consider improvements or changes that have been made to the property.

3. Why is Gaston County reappraising properties?

North Carolina General Statute 105-286 requires all counties to conduct a reappraisal at least once every eight years. Gaston County's last reappraisal was performed in 2019. The goal of reappraisal is to distribute the overall tax burden throughout the County in a way that is fair and equitable, and based on current property values.

4. What is the benefit of reappraisal?

Property taxes are based on property values. Without periodic reappraisals, some property owners would pay more than their share of property tax while others would pay less. Reappraisals reset property tax values to their current market value so that the property tax burden is spread fairly among all taxpayers.

5. What is Market Value?

According to North Carolina General Statute 105-283, Market Value is defined as "the price estimated in terms of money at which the property would change hands between a willing and financially able buyer and a willing seller, neither being under any compulsion to buy or sell." The Gaston county assessor’s office analyzes the local real estate market and uses that information to develop our estimates of market value.

6. How does reappraisal affect my taxes?

Reappraisal and taxation are separate. Reappraisal determines the market value. The Gaston Board of County Commissioners and local jurisdictions (cities and towns) determine tax rates during the annual budget process in late spring. The value of your property combined with the tax rate determines your property tax bill, which is mailed in late July.

7. Who assesses my property? How are they trained?

Assessor’s office staff are certified to perform property reappraisals by the N.C. Department of Revenue. They are well-trained with decades of experience. Appraisers must meet certification requirements. The Assessor’s office also has an internal quality control division that monitors all aspects of the process.

8. Does reappraisal cause gentrification?

The reappraisal values are modeled after the market transactions that have already occurred, i.e. sales that have taken place. The Assessor’s Office follows the market, it does not set the market.

9. Is Gaston County inflating property values to raise money?

Reappraisal is required by North Carolina law and is supported by sales across the County. The County and City will publish a revenue neutral tax rate for review during the budget cycle this spring.

10. Does Gaston County conduct a reappraisal only at the peak of the market?

No. The County has moved to a four-year revaluation cycle and will reappraise in 2023. Market value is established at that time.

11. My reappraisal shows my home value went up quite a bit since 2019. Does that mean my taxes are going up by that same amount?

• No. The County Manager will recommend the budget in April.
• The board reviews that budget and sets the tax rate in May. New bills with the new tax rate and your new valuation will get mailed out in July. 
• They are due September 1st, and residents have until January 5, 2024 to pay without interest accruing. 

12. Will property owners be locked in to paying the new amount for the next four years? What happens if the economy gets worse?

• No. The board reassesses and sets the property tax rate every spring as part of the budget process. The board has consistently worked to lower the rate since 2014. 
• Additionally, the North Carolina Department of Revenue has protections in place if values rise or drop below certain points that a new reappraisal would be ordered. 
• Any additions or improvements would also change your value. 

13. Why did Gaston County do the reappraisal now?

• An appraisal takes years of work. The Gaston County Tax Office has been doing the field work for more than two years. 
• The County was notified by the North Carolina Department of Revenue in 2021 it needed to complete a new reappraisal by the beginning of 2024, which happened to match up with our current 4-year reappraisal cycle.

14. Is Gaston County the only county conducting a reappraisal this year?

27 of all of North Carolina’s 100 counties are going through the reappraisal process this year – many sooner than originally scheduled after getting the same type of letter from the North Carolina Department of Revenue that Gaston County received. 

15. What is the average increase?

Between 50 and 75 percent. That includes all property types – not just residential.  

16. What goes into my tax rate?

• The County rate is paid by everyone, but is not the only component of your overall tax bill
• If you live in an unincorporated area, you also have a tax rate for your Volunteer Fire District.
• If you live in an incorporated area, you also have a municipal tax rate that is set by each individual city council

17. What is the revenue neutral rate?

62.1 cents (last time rate was that low was 1982)