Nash County –  2017 Revaluation

Notices should be mailed to property owners by the end of the week (February 9, 2017).  Property owners have until March 10, 2017 to appeal the values of their property.  To learn how to appeal go to the tax department located on the Nash County website or click on the following link (https://goo.gl/f424Vb).

In 2017, Nash County is not realizing a typical revaluation as we are projecting an overall

1.21% decrease for a value loss in the amount of (-$66,957,844)

• 2016 Real Property Tax Base Value= $5,525,472,098
• 2017 Real Property Tax Base Value= $5,458,514,254
• Amount of Value Loss =                       (-$66,957,844)

• The final median sales ratio is 98.91% (qualified market sales to assessed value).

Handouts by Nash County Tax Administrator Jim Wren   2017 vs 2016 values map of Nash County and Nash County – 2017 Revaluation detail

Comparative Breakdown:

• Overall Property  Values
  • Rocky Mount overall property values have decreased 6.12% (-$158,121,391)
  • The remainder of Nash County overall property values have increased 3.10% (+$91,163,547)

Types of properties increasing in value were chains such as hotels and restaurants.  Vacant and flooded properties experienced the majority of the decline. Comment made during the Nash County Commissioners meeting

• Residential Property Values
  • Rocky Mount residential values have decreased 14.33% (-$216,361,516)
  • The remainder of Nash County residential values have increased 2.56% (+$53,992,174)

• Commercial Property Values
  • Rocky Mount commercial values have increased 8.0% (+$76,640,531)
  • The remainder of Nash County Commercial values have increased  7.47%  (+$27,658,825)

If the significant additions to the Pfizer facility were removed from Rocky Mount’s commercial value would have only been a 4.6% increase. Comment made during the Nash County Commissioners meeting

 Parcel Breakdown

• • Of the 51,091 parcels in Nash County:
    • 26,544 have decreased in value
    • 12,940 have increased in value
    • 9,135 stayed exactly the same
    • 225 are new records
    • 2,247 are exempt

 

In 2009, Nash County realized a typical revaluation. In that year, Nash County realized a 20.43% increase in tax base value of just over (+$900,000,000)

 

For information about Property Revaluations and the appeals process associated with it, please visit our revaluations page. Property Revaluations