Registered Motor Vehicles
Licensed motor vehicles are valued at retail trade level for property tax purposes. A motor vehicle offered for sale by a dealer to the end consumer represents the best example of the retail level of trade. Classified motor vehicles are not valued at wholesale, blue book or private party asking price for property tax purposes. Sales transactions between private buyers and sellers and Internet valuation lookup web sites typically reflect these levels of trade.
Value adjustments may be necessary if the owner can document high mileage, significant body or frame damage, excessively worn interior or other damage that may significantly reduce the retail value. Normal wear and tear will not be considered.
Documentation that will be considered for a vehicle value appeal:
- A copy of the bill of sale documenting the purchase price from a local dealer
- A written appraisal performed by a dealer that clearly states the appraisal reflects the retail value as of the January 1 of the year in which the taxes are due
- Pictures of the vehicle documenting its condition
- For vehicles less than eight years old, documentation of high mileage from an annual inspection, oil change or other invoice
- Repair estimates for vehicles that have been significantly damaged.
Documentation that will not be considered for a vehicle value appeal:
- Wholesale or blue book values pulled from any Internet valuation website, magazine or catalog
- A trade-in or wholesale value appraisal from a dealer
- Written offers from a dealer to purchase your vehicle
- A bill of sale from a private seller.
Mail vehicle appeals and supporting documentation to:
Wake County Revenue
Attention: Vehicle Appeal
PO Box 2331
Raleigh NC 27602
Licensed vehicle value appeals and supporting documentation must be postmarked within 30 days of the billing date printed on the tax bill.
Individual & Business Property
As per North Carolina General Statute 105-317.1(c), a taxpayer who owns personal property taxable in Wake County may appeal the value, situs, or taxability of the property within 30 days after the date of the initial notice of value. If the assessor does not give separate written notice of the value to the taxpayer at the taxpayer's last known address, then the tax bill serves as notice of the value of the personal property. Upon receipt of a timely appeal, the Wake County Revenue Department will arrange a conference with the taxpayer to afford the taxpayer the opportunity to present any evidence or argument regarding the value, situs, or taxability of the property. Within 30 days after the conference, the tax office will provide notice to the taxpayer of its final decision. If an agreement is not reached, the taxpayer has 30 days from the date of the notice of the tax office's final decision to request review of that decision by the board of equalization and review, or if that board is not in session, by the board of county commissioners. Unless the request for review is given at the conference, it must be made in writing to the Wake County Revenue Department.
Mail individual & business property appeals and supporting documentation to:
Wake County Revenue
Attention: Property Appeal
PO Box 2331
Raleigh NC 27602
Wake County assessed real estate values reflect the market value as of January 1, 2008. Any inflation, deflation or other economic changes occurring after this date do not affect the county's assessed value of the property and cannot be lawfully considered when reviewing the value for adjustment. The January 1, 2008 assessed values remain in effect until the next county-wide revaluation, which is currently performed every eight years.
Property owners can appeal county assessed real estate values beginning January 1 each year. The deadline for appealing a value is the day the Board of Equalization and Review adjourns, which is usually the first part of April. The only appeal request that can be accepted after the Board adjourns is from a property owner whose county assessed real estate value was changed and notification of the change was not issued until after the Board adjournment date. The appeal deadline for this status is December 31.
The first step in appealing is to determine if you are eligible for an informal review. (If you are not eligible, follow the next step below to formally appeal to the Board of Equalization and Review.) Eligibility for an informal review requires that the county's assessed value of your property has changed since the prior year billing and this is your first notice of the new value. If you are a new owner, eligibility for a review would still require that the county's assessed value has changed since the previous year's billed value. This initial reassessment is performed by a county real estate appraiser who will thoroughly review and consider your appeal. Adjustments to value will be based on a reanalysis of the property. Once you are notified of the results of the review, you have the option of accepting the recommendation or appealing further. An informal review may be initiated by calling our office at 919-856-5400 or by sending your request in writing to:
Wake County Revenue Department
Attention: Real Estate Appeal
PO Box 2331
Raleigh NC 27602
The next step in the appeals process is to formally appeal to the Board of Equalization and Review (BOE). This is a special board appointed by the County Commissioners and consists of Wake County residents with knowledge of local real estate values. The formal appeal process is for property owners not satisfied with the results of an informal review or who were not eligible for the informal review as there was no change in the county's assessed value from the previous billing. Please note that changes in market or economic conditions occurring after the effective date of a revaluation cannot be lawfully considered when reviewing the assessed value for adjustment.
To begin this formal appeal process, you may call our office at 919-856-5400 and request a BOE application or send us a signed letter that states your opinion of value and include any documentation you may have that supports your opinion of value. We must receive your completed application or signed letter prior to the adjournment of the Board, which is usually the first part of April, for it to be considered timely.
Once your application or signed letter is received, our appraisal staff will review the appeal to determine if an adjustment is warranted. If the appraiser feels that no adjustment should be recommended, the appeal will be prepared with staff review notes for the BOE. A hearing will be scheduled and you will be notified of the date and time you may appear before the Board.
Following a hearing with the Board, a property owner still in disagreement with the value of the real estate may appeal to the North Carolina Property Tax Commission. The Commission is composed of five members; three appointed by the Governor and one each by the Lieutenant Governor and the Speaker of the House. Applications for hearings must be filed with the North Carolina Property Tax Commission within thirty (30) days after the Board of Equalization and Review has mailed notice of its decision. Appeals from Commission decisions are to the Court of Appeals and are based on the record made at the hearing.