How does revaluation equalize the tax burden?

Since property taxes are based on value, it is important to have all property valued periodically on a uniform basis, using a modern system of valuation. Property values change with time. Some values go up, some go down, and others remain static. Appraisals must be updated or inequities in tax distribution will result. For instance, property valued at $150,000 in 2017 might now be worth $172,000, or the property could have declined in value to $135,000. In either case, the 2017 assessed value of the property is obsolete and will result in the property owner either paying too much or too little of his or her share of the tax for the operation of local government. New Hanover County's revaluation will make sure people are paying taxes fairly, based on their current property value.

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1. What is the purpose of the revaluation program?
2. When do the new property values go into effect?
3. What is the difference between Reappraisal and Revaluation?
4. How will I be notified of any property value change?
5. What was the process for determining my property value?
6. Where did New Hanover County get their comparable sales and or basis for value?
7. What if I disagree with the revaluation of my property?
8. What are the steps to appeal my property value?
9. When is the deadline to appeal my 2021 assessed value?
10. Would I need multiple appeal forms to appeal multiple properties?
11. Why did my value go up over a year?
12. Why isn’t my value the same as the sale price I paid for it?
13. How does revaluation equalize the tax burden?
14. What effect will the revaluation project have on tax bills?
15. What tax rate will be used for 2021?
16. What percent of value does NHC tax on?
17. When is the next County Revaluation?