Whoa! I read the News & Observer article that property valuations for real estate would come out yesterday evening at 5:15p and be posted on their website. With apprehension, I went to their website to review the assessed values for my real property here in Wake County. I was not prepared for what I saw. The assessed value is nowhere near sales comps on my street, on my block, or anywhere in my subdivision here in this PUD. I have no idea where the numbers came from, but they appear to be significantly higher than the latest sale price for a house of similar size in my neighborhood.
It is a whopping 57.7% higher!
If you live in Wake County and need to look yours up, here’s the website.
Gimme a break! Although the tax rate isn’t published at this point, I believe it is an omen of things to come. I am looking into how to get my home reassessed.
Yes, painful indeed. When you get your assessment in the mail, there is information on an appeal. I’m thinking of filing one, even though a higher assessed value would be good for a refi, but the comps in the area would never support the assessed value regardless. Unbelievable!!