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Non Reappraisal Year Appeals
North Carolina General Statute 105-283 states that all property, real and personal, shall as far as practicable be appraised or valued at its true value in money the words “true value” shall be interpreted as meaning market value. "Market value" is 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, and both having reasonable knowledge of all the uses to which the property is adapted and for which it is capable of being used.
Real property market values were established effective January 1, 2011, Wayne County’s last reappraisal date, using sales data from 2009-2010 and the adopted schedule of values. Once values are established at the reappraisal date they remain the same until the next reappraisal, 01-01-2019, except for the following occurrences:
Statute 105-287
Values may be increased or decreased in a non-reappraisal year for the following reasons:
Real property market values were established effective January 1, 2011, Wayne County’s last reappraisal date, using sales data from 2009-2010 and the adopted schedule of values. Once values are established at the reappraisal date they remain the same until the next reappraisal, 01-01-2019, except for the following occurrences:
Statute 105-287
Values may be increased or decreased in a non-reappraisal year for the following reasons:
- Correct a clerical or mathematical error
- Correct an appraisal error resulting from the misapplication of the schedules, standards, and rules used in the county’s most recent reappraisal
- Recognize an increase or decrease in the value of the property resulting from a physical change to the land or to improvements on the land
- Recognize an increase or decrease in the value of the property resulting from a change in the legally permitted use of the property
- Normal, physical depreciation of improvements
- Inflation, deflation, or other economic changes affecting the county in general
- Betterments to the property made by:
- a. Repainting buildings or other structures
- b. Terracing or other methods of soil conservation
- c. Landscape gardening
- d. Protecting forest against fire
- e. Impounding water on marshland for non-commercial purposes to preserve or enhance the natural habitat of wildlife