My Value 2021

No, market value does not change at the same rate on all properties. There are differences between individual properties and neighborhoods located within the County. In one area of the County the sales may indicate a significant decrease in value in a given year, while in another area of the County the sales may indicate a significant increase in value in the same year. Many factors are considered during the appraisal process. Some factors affecting value can be location, condition, size, construction quality, number of bathrooms, finished basements, pools, garages, economic conditions, etc. Market value is determined by buyers and sellers in the local real estate market. It is also possible for properties within the same neighborhood to show different value changes.

Real property includes land only, land and structures, or improvements on the land to include manufactured homes on a permanent foundation. A system of automatically listing real property in Buncombe County is made possible through the coordinated efforts of the County Planning Department, Permits and Inspections, Land Records, and the Register of Deeds. This does not relieve the responsibility of the citizen to list improvements.

A notice of reappraisal will be mailed to all Buncombe County real property owners on file with the Buncombe County Assessor’s Office on or about January 30, 2021.

Every four years the Buncombe County Tax Assessor completes a reappraisal of all real property in the County. This process is called reappraisal. The purpose of reappraisal is to comply with North Carolina law which requires property to be valued, or appraised, at its current market value at least every eight years and to ensure all taxpayers are taxed fairly and equitably. Values are placed on real property using either one or a combination of the following appraisal approaches:

• Sales comparison or market approach: This approach compares the selling prices of similar properties and places a value on those properties based on actual selling prices. This approach is the most accurate when there are numerous sales occurring.
• Cost approach: Values are determined on what it would cost to replace a similar property at current building costs minus depreciation, based on a variety of factors and the age of the property. This approach is best used for unique properties or newer construction.
• Income approach: This approach is used primarily on income-producing properties such as apartment buildings or business offices. Revenues are analyzed to determine a net operating income. This income is then capitalized to determine a value for the property.

Under specific circumstances property owners may be eligible for reduced taxes or participation in other deferment or special programs. To participate in these programs, requirements specified by North Carolina law must be met. Available programs are listed below with contact information.

Elderly, Disabled, Disabled Veteran Relief

• Contact the Buncombe County Exemption Division at (828) 250-4915 or visit the Senior/ Disability webpage.

Exempt Property

North Carolina law allows for certain types of property to be exempt from property taxes if they meet the requirements specified. Some types of exempt property may include but are not limited to:

• Property used for religious purposes
• Property set aside for burial
• Property used for educational, scientific, or literary purposes
• Property used for charitable purposes

Applications for exemption are accepted by the Tax Assessor during January of each year. For more information:

• Contact the Buncombe County Exemption Division at (828) 250-4915 or visit the Tax Exemptions/ Deferments webpage.

Present-Use Program

The North Carolina General Assembly enacted the Present-Use Value Program allowing reduced tax assessments for individually owned property currently in use for agriculture, horticulture or forestry. Property accepted into this program is assessed at its present use value as an operating farm. The present-use value is usually less than the market value of the property. The difference between the present-use value and the market value is deferred. When the property or a portion of the property is removed from the program for any reason, the deferred taxes for the current year and the previous three years, plus interest, become due.

Applications for this program are accepted during January of each year. For more information:

• Contact the Buncombe County Exemption Division at (828) 250-4915 or visit the Tax Exemptions/ Deferments webpage.

There is an appeal process for property owners that disagree with the appraised value. First, an informal appeal form must be completed and returned to the Assessor’s Office prior to April of the year in which the appeal is being made. You may start the process online at taxappeal.buncombecounty.org to submit the form electronically or call the Assessor's Office at (828) 250-4940 to request a form. Please include any documentation such as, photographs, sales records, appraisals, etc. you may have. Your appeal will be thoroughly reviewed. If the property owner would like a face-to-face meeting, one will be scheduled at a convenient time for the owner.

Adjustments to values may be made based on re-analysis of appealed property. Once the owner is notified of the reanalysis results, they have the option of accepting the value or appealing to the Board of Equalization and Review. If after the results of the appeal to the Board of Equalization and Review the property owner does not agree, they may appeal to the North Carolina Property Tax Commission in Raleigh. Very rarely is this step required. From the Property Tax Commission, a property owner many appeal to the North Carolina Court of Appeals and finally to the North Carolina Supreme Court. Appeals to the state level are very rare because every effort is made by the Assessor’s Office to resolve issues locally among individuals most familiar with property values in Buncombe County.

An increase or decrease in the appraised value of a property may not predict whether the property tax will increase, decrease, or remain the same. Only after the tax rates are set by the Buncombe County Board of Commissioners at the beginning of each fiscal year can the property tax be determined.

The owner of the property as of January 1 of the current tax year is responsible for taxes for the entire year, unless the property changes ownership during the tax year. If there is a change of ownership, the owner of record on the following January 6, or date interest begins, and any subsequent owner will be held liable for any unpaid real estate taxes. The Tax Collector does not prorate real estate taxes. Any needed proration of real estate taxes due to a change of ownership should be handled between the buyer and seller at the time of the sale. The Collection Department will attempt to send the tax notice to the owner of record as of January 1 as well as any subsequent owners. Tax liens against the property wi

Tax notices, commonly known as bills, are mailed in early August each year and become due on September 1. However, there is a four-month grace period allowing property owners time to pay their taxes until the following January 5 before interest is added. January 5 is the deadline for paying property taxes. If you are interested in a payment plan for your tax bill, contact the Tax Collector at (828) 250-4910.

It is the responsibility of the Tax Assessor to value all taxable property within the County. The total value of all the property within the County is the tax base. Each County agency or department submits an annual operating budget to the County Manager. The County Manager then submits a recommended total County budget to the County Commissioners for their consideration. The Board of Commissioners reviews the recommended budget and conducts a public hearing for citizen input. By the end of June, the Board of Commissioners adopts a budget for the fiscal year beginning July 1. The budget is divided by the value of the tax base to determine a tax rate. The tax rate is based on amounts per each $100 of property value. A similar process is completed for each municipality and fire district within Buncombe County.

Property owners have several options for paying taxes due.

• In person at Buncombe County Tax Department, 94 Coxe Ave., Asheville, NC 28801.
• By mail using the self-addressed envelope included with your tax notice. Send to P.O. Box 3140, Asheville, NC 28802.
• Drop off your tax payment with the payment coupon in our drop box located in the driveway of the Family Justice Center at 35 Woodfin Street.
• Drop off your tax payment with the payment coupon in our drop box located next to the main entrance of the Tax Department at 94 Coxe Ave.
• Online credit card and electronic check payments, visit buncombecounty.org/tax
• Credit card by telephone, call (877) 690-3729, enter the jurisdiction code 4301 and follow the instructions
• Preauthorized debit program, contact the Tax Collector at (828) 250-4910 for more information and to get started.

Tax bills and payment receipts may be printed by visiting buncombecounty.org/tax.