With 2017 being a revaluation year for Cumberland County, which includes the city of Fayetteville, property owners are beginning to receive revaluation notices.
On average, values for commercial properties are up 4%. However, because residential values are down, the overall tax base is expected to shrink by about 3%, resulting in an anticipated loss in revenue. As reported by Fayetteville Observer, County Manager Amy Cannon is skeptical that the county could reduce its expenses to the same degree as the anticipated loss in revenue, so she expects that the county will either cut services or that the County's Board of Commissioners will need to raise the tax rate to make the 2017 revaluation revenue neutral. The city of Fayetteville will have similar decisions to make.
If you own commercial property in Cumberland County and considering pursuing an appeal, you can read our previous posts about the appeal process, which begins with a request for informal review, moves to a formal appeal to the local Board of Equalization and Review, and then goes to Raleigh at the North Carolina Property Tax Commission. See this article to determine if it might be worth it to pursue an appeal, and this one to think about whether you should get an attorney involved to assist.