Long-term project will take a couple of years to complete
By Becky Long
Publisher
In preparation for a county-wide property revaluation in 2026, county commissioners on June 1 approved a $613,200 contract for an appraisal company to conduct the revaluation.
Three companies submitted bid proposals, but Clay County Tax Assessor Bonnie Lyvers recommended Pierson Appraisals which the commissioners unanimously approved.
Their bid, at $36.94 per parcel, was not the lowest, but Lyvers noted this company met all the qualifications. “They met everything we ask for,” she said.
There are 16,600 land parcels to be re-valuated.
“This is an important time for Clay County,” said Lyvers. “We’ve all seen the prices in the grocery store. Real estate is right up there with that.”
The reappraisal process is conducted to bring property value up to current fair market levels. Revaluations are required at least every eight years which Clay County does, but some counties conduct them every four. Clay County will begin the revaluation process in 2024.
The process can take more than two years to complete and upon its conclusion the property value will be used to help determine how much you pay in property taxes. For example, if property values increase substantially, the commissioners could opt to lower the millage rate, which is currently .43 cents per $100 of property value. This rate was set in 2018 after the conclusion of that revaluation.
Clay County’s millage rate is among the lowest in North Carolina. Cherokee County’s rate is .61 per $100 value; Graham County’s is .64; and Macon is .40 per $100 value, according to the N.C. Department of Revenue rates for ‘22-23.
If the trend continues, property values will show an increase when adjusted to fair market value.
According to tax records, the estimated total “taxable value” of real property for the past six years is as follows. These amounts do not include personal property.
2018: $1,771,494,119
2019: $1,781,448,070
2020: $1,802,266,218
2021: $1,827,788,492
2022: $1,856,998,097
2023: $1,886,640,745
There’s no exact science to predict how the revaluation will affect taxpayers when it is complete. Clay County uses a revenue neutral property tax rate. Among the considerations is the county would want to budget at least the same amount of tax revenue for the budget year of a revaluation as it did for the year when there was no revaluation, assuming the revenue needs do not change drastically.
In other matters during the brief monthly meeting, commissioners reappointed Dusty Beal and Jason McClure to the Clay County Planning Board. Beal and McClure will return for a three-year term. They join Michael Anderson, Clara Reffitt and Chris Cotton on the board.
• Approved a resolution in support of the Clay County Outdoor Initiative Program to enhance and expand outdoor recreational opportunities for visitors and residents alike.
• The board is also involved in finalizing its 2023-24 fiscal budget. They will have a called meeting at 6:45 p.m. Thursday, June 15 which includes a public hearing on the budget and adoption of the budget ordinance, if approved. The Water & Sewer Board will also conduct their budget hearing and finalized budget on the same date, starting at 6:30 p.m.