The Haywood County Tax Department has completed its reappraisal of real property, and property owners have begun to receive tax revaluation notices. The County reappraises property on a four-year schedule, so this assessment will determine your property’s taxable value until 2025—and can generally only be changed based on physical changes to the property or a successful revaluation appeal.
Property values didn’t change by much in the 2017 revaluation but will experience a steep jump in 2021. Judy Hickman, Haywood County’s tax assessor, estimates that residential property values increased by at least 30 percent and that commercial property values have increased by about 15 to 25 percent. This growth may significantly affect property owners’ tax bills, depending on where the county commissioners set the tax rate.
The new assessed values will take effect in January 2021. But assessment reductions achieved through a successful property tax appeal are not retroactive, so it’s critical to appeal this year if you want to maximize your potential savings.
Haywood County revaluation notices were sent out on April 1, 2021. If you believe the new assessed value exceeds your property’s fair market value as of January 1, 2021, you can request an informal review with the Haywood County Tax Department before May 1, 2021. If your informal appeal is unsuccessful, or if you fail to file a request for informal review, then you may file a formal appeal with the Haywood County Board of Equalization and Review. The County plans to determine the deadline for the BER appeals following the close of informal reviews at the beginning of May.
You can learn more about the property tax appeals process in our 2021 Guide to NC Commercial Property Tax Revaluation. Given the significant growth in Haywood County property values, we are happy to assist property owners in considering whether to pursue a property tax appeal in Haywood County this year.