Friday, December 21, 2007
If you own property in Durham you should have received the new tax value on your home from the County. Property tax values increased significantly across the board.The County stated that, on average, tax values were going to increase 30%. Although the tax values have increased substantially, the effect on your 2008 tax bill will be unclear until the new tax rates are set in June.Typically, the city and county are revenue neutral when there is a revaluation.I expect to see tax rates drop to compensate for the increase in tax values.I will get back to you in 2008 with information about the new tax rates.
With that being said, if you do not agree with the new tax value on your home, you can contest it.If you think the tax value is more than what you could sell it for, I encourage you to appeal the new valuation.I have helped a number of people successfully appeal their increased tax values.If you want to appeal your tax value, you must call the Durham Tax Administration Office at 919-560-0300 (and press 0) to request the official form for the request.
If you are unsure of the market value of your home, I am happy to price your property and provide you with the necessary information to contest the valuation.Please know that the appeals process in Durham will be going on until approximately April 2008.Although the documentation you received from the County said that the review process would end December 19th, 2007; we have spoken with the tax office and it has been confirmed that a formal hearing can still be requested.
If Team Jodi can be of help in any way, give Jodi and Jeff a call in the office at 919-672-4377 or send us an email to [email protected] or [email protected].We will be happy to help in any way possible.