Home Buying in Kernersville>Question Details

Emarch8, Home Buyer in Kernersville, NC

.Tax assessment too high?

Asked by Emarch8, Kernersville, NC Tue Jul 19, 2011

My house is assessed at $174,800 but I only paid $165,000 for it a year ago and now I have neighbors selling identical homes for $139,900. Should I appeal the assessment? What factors will the assessors office consider?

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Answers

2
It depends-

If you are planning on selling the house anytime soon, I'd leave it alone- lots of buyers use tax values as a tuning fork to determing value.

If you are planning on staying for a while, then appeal and be ready to show a HUD and possibly just print out a couple listings that show your home is not realistically valued.
0 votes Thank Flag Link Wed Jul 27, 2011
You can appeal and ask the tax assessor to come and reassess. Now unless you are looking at selling anytime soon I do not see a down side to this being done. Are the identical homes that are being sold distressed sales (short sales, foreclosures)?

The tax assessor is going to look at the total picture and economic stats of the area. They will not be doing an appraisal as much as they will be looking at the overall area. Also it will determine since you are in Kernersville are most likely in Forsyth county. But you will need to verify there are a lot of overlapping areas for services and mailing addresses where your tax information may not match your mailing address ie; mailing address says Kernersville but in Guilford county and another area is responsible for emergency services. When you get up around the western tip of Guilford it can get confusing. Your best bet is to simply call the correct tax office for your home and talk to them. The staff is usually quite helpful. Believe me you are not the only one in this position.

Hope this helps,
0 votes Thank Flag Link Tue Jul 19, 2011
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