With 2017 being a revaluation year for Nash County, which includes the city of Rocky Mount, property owners are beginning to receive revaluation notices. On average, assessments are dropping slightly across the county, down about 1.2%. However, this decline is largely attributable to a sharp decline in residential property assessments. Commercial property assessments are slated to go up.
As reported in the Rocky Mount Telegram, about 25% of all tax assessments increased, and assessments of commercial property across the county have increased by about 7.5%. According to Rocky Mount's city manager, the overall increase is due to industrial expansions, new retail stores and restaurants, and the construction of several new hotels, but of the county's 51,091 tax parcels, less than one-half of one percent are new records. So, if you own commercial property in Nash County, chances are you'll see an increase in your property tax assessment.
We've written extensively 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. If you own commercial property in Nash County and believe your notice of assessment shows a value which exceeds your property's true value, consider an appeal.