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Reschedule 2029 Countywide Reappraisal
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INFORMATION CONTACT:
Brian Matthews, County Manager, 704-292-2597
ACTION REQUESTED:
Adopt a resolution delaying the scheduled 2029 countywide reappraisal to 2031 and follow the standard statutory cycle in subsequent years.
PRIOR BOARD ACTIONS:
August 16, 2021, Regular Meeting, Agenda Item # 43 - Adopted resolution advancing the 2029 reappraisal to 2025 and establishing a standing four-year reappraisal cycle in subsequent years.
BACKGROUND:
Following the 2021 countywide reappraisal, the Board of County Commissioners adopted a resolution establishing a four-year reappraisal cycle for Union County, consistent with practices in similar counties. The resolution set January 1, 2025, as the effective date of the next reappraisal.
After the resolution was adopted, rapid changes in the real estate market prompted the North Carolina Department of Revenue to mandate a 2025 reappraisal under G.S. § 105-286(a)(2). Under the Board’s original four-year schedule, the next regularly planned reappraisal would have been effective January 1, 2029.
State law requires a mandatory advancement of a reappraisal if the countywide sales-assessment ratio falls below 85 percent or exceeds 115 percent. The median ratio for Union County in 2026 is 96.3 percent, which remains well within the statutory range monitored by the North Carolina Department of Revenue. As a result, a mandatory 2029 reappraisal will not be required.
Given the continued stability of assessed values, the next reappraisal is recommended for January 1, 2031, with the county returning to the standard statutory reappraisal cycle in subsequent years unless otherwise directed by the North Carolina Department of Revenue or by a change in the North Carolina General Statutes.
FINANCIAL IMPACT:
None.