In 2021, Davidson County is conducting its revaluation of real property for the first time since 2015. Davidson County formerly reappraised real property on an eight-year schedule, under which the revaluation would have occurred in 2023. But given North Carolina’s statewide push to reappraise real property more frequently—as well as potential funding needs for a new Davidson County jail—the County decided in March 2020 to implement the new six-year schedule.
If you believe that your property’s reappraisal value exceeds its fair market value, you should appeal this year to maximize your potential savings. An appeal that successfully reduces your property’s assessment only has prospective effect, so you benefit for the year of appeal and any future years until the next revaluation.
Davidson County mailed its revaluation notices to property owners on February 5, 2021. These notices generally inform you of the new assessed value for your property, which will serve as the basis for the property tax bills that will be sent in July 2021 and will be due on September 1, 2021. The County and any applicable municipalities typically set their tax rates by the end of June, pursuant to the budget process.
When you receive your revaluation notice, you should consider whether the new value properly represents the fair market value of the property as of January 1, 2021. If not, you may file a request for informal review with the Property Assessor’s office, within 30 days of the revaluation notice. If your informal appeal is unsuccessful, or if you don’t file one at all, you may still proceed to file a formal appeal with the Davidson County Board of Equalization and Review (BER). The deadline for filing a BER appeal is April 6, 2021.
Davidson County encompasses Lexington, Thomasville and part of High Point. You can learn more about the appeals process from our 2021 Guide to NC Commercial Property Tax Revaluation. From there, please don’t hesitate to give us a call to discuss whether it might be beneficial to pursue a property tax revaluation appeal in Davidson County this year.