2017 is a revaluation year for Orange County, which includes the cities of Chapel Hill, Hillsborough, Carrboro and Mebane. On March 3, the Orange County Tax Office will start sending revaluation notices. Owners of commercial properties there should pay attention to these important notices.
Orange County's Tax Administrator says the tax base for commercial property countywide is going up 39%, as reported by Chapelboro.com. Certain segments will see even larger increases, with apartments up 61% and industrial property up 45%. So, if you own commercial property in Orange County, chances are you'll see an increase in your property tax assessment.
If you believe your notice of assessment exceeds your property's true value, consider an appeal. To learn more about the process and how to determine whether it makes sense for you, check out our recent white paper on the topic.
Image by Caroline Culler. Used under the GNU Free Documentation License, Version 1.2.