Up & Coming Weekly

April 18, 2023

Up and Coming Weekly is a weekly publication in Fayetteville, NC and Fort Bragg, NC area offering local news, views, arts, entertainment and community event and business information.

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Page 8 of 24

8 UCW APRIL 19 - 25, 2023 WWW.UPANDCOMINGWEEKLY.COM e Cumberland County Tax Ad- ministration is gearing up for the 2025 Tax Revaluation. Per North Carolina general statutes, each county must conduct a reap- praisal of all real property at least ev- ery eight years. Cumberland County's previously conducted county-wide revaluation was Jan. 1, 2017. During a reappraisal, the county aims to re-establish equity among properties that may have appreciated or depreciated at different rates since the last revaluation. e primary goal is to be equitable. is is accomplished by updating the tax values to reflect the estimated market value as of the re- valuation date, which is set for Jan. 1, 2025. It is not the purpose of a reappraisal to increase revenues or to provide tax breaks. e Cumberland County Tax Administration uses mass appraisal methods to analyze data and establish values. Mass appraisal differs from individ- ual property appraisal that is typically performed by an independent fee appraiser in that appraisal standards, schedules and models are developed and then applied to each individual property within a similar group of properties. is is done using a Com- puter Assisted Mass Appraisal System. A variety of data analysis is per- formed to assist in establishing fair market value models. Many factors are reviewed and considered such as property type, use, age, size, qual- ity, style, condition, and location, as well as reviews of recent market sales, trends and replacement costs. e value models developed and used to value the different property types are cost, sales comparison or income approaches. For example, residential houses are typically valued using the sales com- parison approach, which will establish market value based on a comparison to qualified sales of similar properties. Market value is generally deter- mined from sales between unrelated and unbiased parties and where the property was not sold under a dis- tressed situation. e Tax Administration appraisal staff reviews properties using the Real Property Listing forms, mapping programs, site reviews of neighbor- hoods, individual properties that have permits, and recent sales of properties to attain accurate listing information which will help develop better market values. Citizens of Cumberland County may notice an increase in appraisal staff and data collectors in the field conducting site reviews as we prepare for revaluation. ese staff will be wearing a county issued identifica- tion badge and driving a vehicle that displays a county emblem. Owners are also encouraged to visit the website at www.cumberlandcoun- tync.gov/departments/tax-group/tax/ real-estate-gis-mapping to learn more about Revaluation and to review their property listing information to be sure it is correct. If any changes are needed to the listing, owners can download a 2024 Real Property Listing form to submit any changes. e form can be found in the Forms and Publication section and can be submitted to the Tax Office by several methods which are noted at the bot- tom of the form. Citizens may also contact our Customer Service office for additional information or any questions at 910- 678-7507 or email any questions to taxrealestate@cumberlandcountync. gov. County Tax Administration preparing tax revaluation a STAFF REPORT NEWS

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